what is diffrant betwwen exice duty & sale tax
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Answer / sanjeev
Exice duty is of Central Govment and Sales tax of State
Govmrnt.
| Is This Answer Correct ? | 26 Yes | 2 No |
Answer / vinay kumar kharbanda
Excise duty is the tax on manufacturing activity controlled
by Central Government.Input excise duty & service tax on
input activities are adjustable with duty payable on
manufactured good whether it is marketable or to further
process required.
Vat is the tax on sale which is imposed by State
Government.Input local vat is adjustable with output vat.
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / asghar alam siddiqui
Excise duty is the central government tax an all
manufactured goods @ 8.24 % but sale tax is the state
government tax.ie. cst @ 2 % ,vat @ 4%,4.5%, 12.5 %
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / md.nasim
All goods that are produced or manufactured in India shall
be charged a duty of excise called Cenvat at the rates
specified in the Central Excise Tariff.where as Sales tax
is tax where any goods are sold or purchase in the market
in the monatory terms,on which lavied arises is called
sales tax it may be in a state or central.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / subhasish mandal
Exiercie is central Govt. but sale Tax is state Govt.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / uma shankar
Exice duty is of Central Govment and Sales tax of State
Govmrnt. BUT an all
manufactured goods @ 8.24 % Exice duty & cst @ 2 % ,vat @
4%,4.5%, 12.5 % sale tax state govt.
| Is This Answer Correct ? | 2 Yes | 1 No |
Excise tax refers to the tax that is levied upon production
of an item and the manufacturer has to pay it when the
finished good goes out of the factory. Thus it is also
called as production tax or manufacture tax.Excise is
different from customs as excise duty is levied on goods
produced inside the country whereas custom duty is charged
on good produced outside the country.
Sales tax is a tax that is levied upon the end consumer of
a product. Normally it is included in the MRP of the
product so the consumer knows that he is paying the tax
when he purchases an item from the market. In some cases,
shopkeepers add it in the last of the invoice to keep it
separate. This amount that a shopkeeper collects from the
consumers is deposited by him to the government. This is a
direct tax that is difficult to evade as a shopkeeper
cannot hide his sales.
| Is This Answer Correct ? | 0 Yes | 0 No |
Excise Duty is of Central Government Tax and Refundable
Sale Tax is State Government and not refundable left Vat.
| Is This Answer Correct ? | 7 Yes | 13 No |
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