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Another name for tax?
There are several other names or synonyms for the word tax. Some include duty, expense, price, custom, excise, and dues.
What is the difference between Duty-Free and Duty-Paid?
first of all duty means 'tax'. for goods we have to pay tax i.e duty paid, duty free means tax free.
What are 2 types of indirect taxes?
Excise-Duty and Custom-Duty
Is import duty a direct tax or indirect tax?
indirect tax
How much can you receieve without incurring gift tax?
You do not incur ANY gift tax on gifts you receive, so you could receive an infinite number of gifts and owe absolutely no tax.
Is custom duty direct tax?
yes
Which indirect tax registered the maximum growth?
Custom duty
A custom duty is a tax on what?
A customs duty is a tax paid on items taken out of a country. If a person buys something in a foreign country, there might be a special tax levied on that item to bring it to the next country.
Q. From which type of tax the Govt of India earns maximum amount of revenue?
custom duty
Difference between excise duty and custom duty?
Duty and tax differs in the sense that the former one is implied only on financial transactions, commodities, estates and the like, where the latter is mainly levied on both goods and individuals. Duties are generally inputs and are tagged with a “cost” perspective. On the other hand, taxes generally are inputs and are tagged on an “income or value” perspective.Read more:Difference Between Duty and Tax | Difference Between | Duty vs Taxhttp://www.differencebetween.net/miscellaneous/politics/difference-between-duty-and-tax/#ixzz2ObX4LMbP
What is duty (as in tax)?
Tax is a broad term & duty is a part of tax.......Tax levied on person, product, services & assets for example-INCOME TAX levied on person,VAT levied on sale of products,SERVICE TAX levied on providing taxable services, WEALTH TAX levied on assets..........Genrally DUTY levieble on goods for example-EXICE DUTY levieble on manufaturing of goods, CUSTOM DUTY levieble on import & exports of goods...........................Sachin gupta from jhalawar (RAJASTHAN)
Another name for tax?
There are several other names or synonyms for the word tax. Some include duty, expense, price, custom, excise, and dues.
What is difference between tax and duty?
Tax is a broad term & duty is a part of tax.......Tax levied on person, product, services & assets for example-INCOME TAX levied on person,VAT levied on sale of products,SERVICE TAX levied on providing taxable services, WEALTH TAX levied on assets..........Genrally DUTY levieble on goods for example-EXICE DUTY levieble on manufaturing of goods, CUSTOM DUTY levieble on import & exports of goods...........................Sachin gupta from jhalawar (RAJASTHAN)
Are custom duties taxes a regressive tax or progressive tax?
Customs duty is a kind of indierct tax.Customs duties taxes are imposed on assessable value; ad valorem tax that is a tax proportional to the price of the object being taxed.However, for certain items like petroleum and alcohol, Customs duty is realized at a specific rate applied to the volume of the import or export consignments.
What is the difference between Duty-Free and Duty-Paid?
first of all duty means 'tax'. for goods we have to pay tax i.e duty paid, duty free means tax free.
What is Internal external taxation?
An external tax is placed on an item coming into the colony. It is a custom duty levied against a certain product. Example would be a duty on a piece of machinery made in Great Britain. The duty is paid by the shipper but passed on to the consumer by raising the price of the machinery. An internal tax is a direct tax. It is a tax added on to the price of something purchased by the consumer. The Stamp Tax is an example. When you purchased a newspaper, you also had to hand over a bit more money to pay the stamp that was placed on the paper as the tax. The consumer knows he/she is paying a direct tax.
What are 2 types of indirect taxes?
Excise-Duty and Custom-Duty
