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What is the common features of excise duty and custom duty?
1) It is levied on production or manufacture of goods in india. 2) the burden of this tax falls on the consumer. 3)the tax is levied on d dutiable value calculated by the general or specific method. 4)it is payable when goods are removed from the place of removal. 5)it is levied through out india in the same form.
Are taxes levied on consumers or the producers?
taxes are usually levied up on producer but by shifting tax the consumer aer also effected
What is a good example of a proportional tax?
One example is the Corporate income tax which is a fixed rate at 35%.
What is the difference between a tax and a royalty?
A tax is a fee levied by a government (usually) on top of some sort of economic activity (e.g. sales tax, earned income). A royalty is a charge levied by the owner of some good for the use of that good. (e.g. a radio station pays an artist or record label for the use of a song, or a mining company pays a landowner for the right to mine gold).
What is central excise duty?
The central excise duty refers to an indirect tax which is levied on goods manufactured in India. These are the goods which are meant for consumption at home.
What was a polling tax?
A poll tax was a tax levied on every adult, without reference to income or resources. In the US, the pol tax was used as a prerequisite to voting.
What is a tax levied on any asset inherited?
The tax levied on inheritances is an inheritance tax, and an estate tax can also be involved... it is levied on the assets of the deceased rather than the legacy of the inheritors.
What is tax levied on any asset inherited?
The tax levied on inheritances is an inheritance tax, and an estate tax can also be involved... it is levied on the assets of the deceased rather than the legacy of the inheritors.
What is the subject on which a tax is levied?
tax base
What is the common features of excise duty and custom duty?
1) It is levied on production or manufacture of goods in india. 2) the burden of this tax falls on the consumer. 3)the tax is levied on d dutiable value calculated by the general or specific method. 4)it is payable when goods are removed from the place of removal. 5)it is levied through out india in the same form.
Which tax is levied at a flat rate?
Sales tax
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)
What are the type of taxes collected in nigeria?
1. Value Added tax: Tax levied on you when you purchase goods or services 2. Capital gains tax: Tax levied on you when you sell property/product for a profit. 3. Education tax: tax levied on companies for education development etc. 4. Personal income tax: Tax levied on your income or salary 5. Company (Corporate) income tax: Tax lvied on company's gross income or profit.
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)
What type of tax is a tax on gasline?
the tax levied on gasoline is known as an excise tax.
What type of tax is levied on luxury items?
excise tax
What is a best description of a tax rate?
It is the percentage at which tax is levied.
