Question

Explain the term Excise tax​

Answer 1

Answer:

Excise duty is a form of tax imposed on goods for their production, licensing and sale. ... Today, excise duty applies only on petroleum and liquor. Excise duty was levied on manufactured goods and levied at the time of removal of goods, while GST is levied on the supply of goods and services.

Answer 2

Answer:

Excise duty is a form of tax imposed on goods for their production, licensing and sale. Today, excise duty applies only on petroleum and liquor. Excise duty was levied on manufactured goods and levied at the time of removal of goods, while GST is levied on the supply of goods and services.