What is the difference between custom duty and excise duty?

Question

What is the difference between custom duty and excise duty?

Answer 1

Excise duty is the tax levied by central govt. on goods manufactured in India & custom duty is levied on goods imported from other countries. Govt. levies export duty on goods exported generally for goods which are very important say essential commodities, which are shortage etc. depend on govt. policies

Answer 2

excise duty imposes for domestic purchases/ sales

customes duty imposes for exports/ imports

Answer 3

Central Board of Excise & Customs levy tax under Customs Tariff Act 1975 on goods

EXCISE duty is indirect tax leveied by the State Govt.to products ONLY on Manufacturers and not on BUYERS

CUSTOMS duty is leveied on goods IMPORTED into India.

EXPORT duty is leveied only on selected goods to encourage REVENUE on exports.See Export duty 2nd schedule.

Answer 4

Excise duty is a type of tax charged by a government on goods produced within the country.  Customs duty is a tax charged by a government on goods produced outside the country