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excise |
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exciseTaxes imposed on goods, usually considered luxury items or those items quickly consumed. The taxes are paid prior to sale, the cost being passed on to the consumer. Among the most common excise taxes in the US are those on cigarettes, gasoline, and alcohol. |
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? Mentioned in | ? References in periodicals archive | ||
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| He also said that the Bombay Metal Exchange had asked the Indian government to cut excise duties and CVD from 16 percent to 8 percent and also to reduce the import duty on metals from 7. Under this new scheme of devolution 26 percent of the gross proceeds of Union taxes and duties are to be transferred to the states in lieu of their existing share in income tax, excise duties and grants in lieu of tax on railway passenger fares. Goods stored "in bond" in the Netherlands are not liable to any import duties, excise duties, or VAT. |
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Excise Duties
