what is difference between duty and taxes

Govt. collects amount by way of imposing tax and levying duty such as excise duty , service tax , custom duty , income tax etc.etc.

I would like to know what is the difference between duty and taxes in business point of view. Dictionary meaning of the same may be different.

Thanks

Ramesh

Replies (5)

hiii

There is no logical difference between duty & Taxes.

Actually all the Acts adopted in India are sourced from some Foreign Acts(of Different countries) and the same words are used in India

So Chill...

HELLO,

TAXES ARE THE LIABILITIES OF EVERY INDIAN  LIKE, HOUSE TAX, INCOME TAX, SERVICE TAX, SALES TAX AND AND  DUTY REFERS "WHERE ANY MANUFACTURER EXPORTER , IMPORTER , IMPORT THE  GOODS AND PAID IT BY  THROUGH AS CUSTOMS DUTY " TO THE CENTRAL GOVERNMENT OF CUSTOMS DEPARTMENT.

 AND WHEN ANY EXPORTER / IMPORTER GET THE ADVANCE LICENCE AND EPCG LICENCE , AS PER CUSTOM LAW, AND F.T.P. 2009- 2014 WHEN ANY SHORTFALL , OCCURS THE "DUTY" CAN BE DEPOSITED NOT AS PER "TAX" .

THANKS ,

RAMESH VERMA

9911042560

THE ABOVE SAID PHONE NO. HAS CHANGED.

Originally posted by : RAMESH KUMAR VERMA
HELLO,
TAXES ARE THE LIABILITIES OF EVERY INDIAN  LIKE, HOUSE TAX, INCOME TAX, SERVICE TAX, SALES TAX AND AND  DUTY REFERS "WHERE ANY MANUFACTURER EXPORTER , IMPORTER , IMPORT THE  GOODS AND PAID IT BY  THROUGH AS CUSTOMS DUTY " TO THE CENTRAL GOVERNMENT OF CUSTOMS DEPARTMENT.
 AND WHEN ANY EXPORTER / IMPORTER GET THE ADVANCE LICENCE AND EPCG LICENCE , AS PER CUSTOM LAW, AND F.T.P. 2009- 2014 WHEN ANY SHORTFALL , OCCURS THE "DUTY" CAN BE DEPOSITED NOT AS PER "TAX" .
THANKS ,
RAMESH VERMA
 

PHONE NO. HAS BEEN CHANGED .

Definately there is difference between duty and tax, otherwise why we dont call excise tax and service duty.

The main thing which differenciate this two is:- 

Duty - 1st paid then after collected 

Tax - 1st collected then paid to Government.

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