What is the difference between custom duties and tariff barriers?
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❤️Duty is the tax that is imposed by the government on the goods and services that are manufactured and sold within a country as well as on the goods and services that are imported from another country, whereas, tariff is imposed by the government only on the goods !❤️
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❣️Both duties vs tariffs are different forms of taxes both are different. Tariffs are those taxes which are imposed by the government on the goods which are imported from another country whereas duties are taxes that are imposed on the consumer not only for goods imported but also for local goods as well as for intrastate transaction.❣️
Hope it will help you ❣️
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