What is the difference between excise duty & Custom Duty. and what is present rate of Excise duty and Custom duty , how many types of excise & customs duties .
30 July 2016
Excise Duty is a tariff levied on goods manufactured in the country. Customs Duty is a tariff levied on goods imported in to the Country or Exported from the country. Customs tariffs are many. They include, Basic duty of Customs, Countervailing Duty (CVD) or Additional Duty of Customs (ACD) and Additional Special Duty. In addition , certain cesses like Education Cess, Secondary and Higher Education Cess and Infrastructure Cess are levied at the time of import. Excise Duty is equivalent to CVD. Duties are not uniform. They differ from product to product. In order to know the duties of a specific item you may visit website www.icegate.gov.in
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