what is the difference between excise duty and sales tax
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Answer Posted / utham
Excise duty and sales tax are two different taxes. Taxes are financial levies imposed by a government upon its citizens that are compulsory and not voluntary. Through these taxes a government is able to function, makes its budget and performs its duties for the welfare of the population. There are many types of taxes such as wealth tax, income tax, sale tax, excise tax, custom duty, and toll tax and so on. Coffers of a government are filled with the help of these taxes paid by the citizens. Excise duty and sales tax are two taxes that are very prominent and form a bulk of the total collection under taxes. People are often confused and cannot understand the purpose of the two on the same product or item. This article will differentiate between the two taxes, Excise duty and sales tax, to remove any confusion.
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