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What is the difference between the excise duty and the sales tax?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

Hi May I know, What is the difference between the excise duty and the sales tax?

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

A sales tax is a tax that is levied on the sale of certain goods and services. This tax is payable by the consumer, at the time of purchase. The tax may be applied additionally as a percentage on the cost of the item, or it may be already included in the retail selling price. Usually, there is a particular list of items on which the tax is levied.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Key difference: Sales Tax and Excise Duty are two different taxes that are levied by the government. A sales tax is a tax that is levied on the sale of certain goods and services. This tax is payable by the consumer, at the time of purchase. An excise duty is also known as excise, excise tax, or even a duty of excise special tax. It is an inland tax on the sale, or production for sale, of specific goods within the country.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Dear Friend, > Difference between the excise duty and the sales tax --Key difference: Sales Tax and Excise Duty are two different taxes that are levied by the government. A sales tax is a tax that is levied on the sale of certain goods and services. This tax is payable by the consumer, at the time of purchase. An excise duty is also known as excise, excise tax, or even a duty of excise special tax. It is an inland tax on the sale, or production for sale, of specific goods within the country. Sales Tax and Excise Duty are two different taxes that are levied by the government. Taxes usually serve as a source of income for governments. Investopedia defines ‘sales tax’ as “A tax imposed by the government at the point of sale on retail goods and services. It is collected by the retailer and passed on to the state. It is based on a percentage of the selling prices of the goods and services and set by the state.” A sales tax is a tax that is levied on the sale of certain goods and services. This tax is payable by the consumer, at the time of purchase. The tax may be applied additionally as a percentage on the cost of the item, or it may be already included in the retail selling price. Usually, there is a particular list of items on which the tax is levied. Likewise, there is a list of items that are exempted from the tax. The sales tax is considered a direct tax that is difficult to evade as a shopkeeper cannot hide his sales.”

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Open uri20170510 32134 1c996lj?1494421732 answered

Key difference: Sales Tax and Excise Duty are two different taxes that are levied by the government. A sales tax is a tax that is levied on the sale of certain goods and services. This tax is payable by the consumer, at the time of purchase. An excise duty is also known as excise, excise tax, or even a duty of excise special tax. It is an inland tax on the sale, or production for sale, of specific goods within the country. Sales Tax and Excise Duty are two different taxes that are levied by the government. Taxes usually serve as a source of income for governments. Investopedia defines ‘sales tax’ as “A tax imposed by the government at the point of sale on retail goods and services. It is collected by the retailer and passed on to the state. It is based on a percentage of the selling prices of the goods and services and set by the state.” A sales tax is a tax that is levied on the sale of certain goods and services. This tax is payable by the consumer, at the time of purchase. The tax may be applied additionally as a percentage on the cost of the item, or it may be already included in the retail selling price. Usually, there is a particular list of items on which the tax is levied. Likewise, there is a list of items that are exempted from the tax. The sales tax is considered a direct tax that is difficult to evade as a shopkeeper cannot hide his sales.”

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