Question

explain the meaning and
features of custom duty​

Answer 1

Answer:

Customs duty refers to the tax imposed on goods when they are transported across international borders. In simple terms, it is the tax that is levied on import and export of goods. The government uses this duty to raise its revenues, safeguard domestic industries, and regulate movement of goods. features of this tax can be discussed as: Customs duty is applied to the movement of goods irrespective of sales or purchase. Customs duty is a tax which is applied indirectly by government. Customs duty is applicable only on goods, not on services.