what is the difference between excise duty and customs duty.

Answers were Sorted based on User's Feedback



what is the difference between excise duty and customs duty...

Answer / punitthakur001

If we are manufacturing any goods this case we have to paid
tax, called excise duty (if good is excise able).

but when we import goods and pay duty, called custom duty.

Is This Answer Correct ?    14 Yes 1 No

what is the difference between excise duty and customs duty...

Answer / sandeep

Exice is applicable if manufacturing process is conducted.
refer Central Excise act 1944


Customs is the duty payable on imports,
Refer Customs act 1965

Is This Answer Correct ?    13 Yes 2 No

what is the difference between excise duty and customs duty...

Answer / anoop.m

if we are purchased materials from direct manufaturing companies, that time we want to pay the excise duty to the company.
customs duty means we purchase some items from outside India that time we have to pay the customs duty charge.

Is This Answer Correct ?    3 Yes 0 No

Post New Answer

More Accounting General Interview Questions

iam working in small industry there some bills are not having even the shop name and contact.no. whether i should consider that expenses or not if yes, whether that bill attach with the voucher?

2 Answers  


When we paid TDS on commission how will journal entry come

0 Answers  


Does the accounting system appear to facilitate one specialty from financial, auditing, or cost managerial or tax accounting over the others?

0 Answers  


how to calculate professional tax, what is the percentage and also turn over tax.

1 Answers   FactSet Systems,


What is properties or real accounts?

3 Answers  






define SOX

1 Answers   WNS,


net worth is: 1)total assets less outside liabilities 2)total liabilities plus owner equity 3) current assets less current liabilities 4) total accumulated profit less liabilities choose correct and with deatail.

3 Answers  


Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.

0 Answers  


Financial Accounting

0 Answers   Chartered Accountant,


What is the Journal Entry of Closing Stock (Raw Material) of a manufacturing Company

3 Answers  


adjustment entry showing in tally such as outstanding salary prepaid salary etc.

0 Answers  


Why Company maintain's books of account?

0 Answers   Satyam,


Categories