Tax and duty

Save Share

This query is : Resolved

CA-ASPIRANT (Querist)
Follow

10 December 2009 Let me know basic difference between Tax & Duty without any example which may come true in all respect.

Highly requested to give succinct answer.

Thanks in advance

ANIL JANGID

ANIL JANGID (Expert)
Follow

13 December 2009 A duty is a form of tax that is only applied to to specific commodities, transaction, or estates, but not on individuals.

CA-ASPIRANT

CA-ASPIRANT (Querist)
Follow

14 December 2009 DIFFICULT TO UNDERSTAND

BASUDEV PAUL

BASUDEV PAUL (Expert)
Follow

15 January 2010 Duty basically related to manufacture and tax relates to sales or income.

CA-ASPIRANT

CA-ASPIRANT (Querist)
Follow

16 January 2010 Basudev Sir,

Your answer related to disctinction between duty and Tax does not seem to be true in all cases.

For example, in case of custom duty it is not paid for manufacturing anything even then it is called duty.

Thanks

BASUDEV PAUL

BASUDEV PAUL (Expert)
Follow

16 January 2010 Custom duty is also related to manufacture the activity may not be done in the imported country bu at the export of origin there it has been happen.
Now for without example duty is such a element which is chargeable before tax
So we can simply say duty and tax is pre and post component for a whole transaction.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now