Question

Difference between custom and excise duty

Answer 1

Both of these taxes are levied by the government but there is a distinct difference between the two. Excise is levied by the government and the goods and products that are manufactured in the country, and customs duty is applied for goods imported from foreign countries.

➰Hope it helps uh ➰

Answer 2

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EXCISE DUTY :-

$\pink\longmapsto\:$ Excise duty is charged from the factory itself. It is levied on the production or manufacture of good.

$\pink\longmapsto\:$ Taxing certain goods raise overall prices.

CUSTOMS DUTY :-

$\pink\longmapsto\:$ customs duty is levied on goods brought from abroad.

$\pink\longmapsto\:$ only machines or raw materials which are imported and taxed raise the overall prices of that good.