Question

Difference between excise duty and custom duty

Answer 1

Answer:

Both excise and custom duty are taxes levied by the government but the major difference between the two is that excise is the tax levied by the government on the goods manufactured in the country while customs duty is a tax levied upon goods imported in to the country from foreign countries...

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 :-

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

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