Customs duty is a type of indirect tax that is imposed on both the exported as well as imported goods and services. The tax that is imposed on imports of goods and services is called import duty and the tax imposed on the export of goods is called an export duty. The Government of India charges these taxes at the time of import and export of goods and services for raising money to protect the home establishments from the rivals from other countries. Lately, the Indian Government has made some alterations in the whole tax system of the nation. GST was introduced which is a new tax collection system that is a location-based tax that implies that the customer is required to pay when they will be using any goods or services. Before this new system, there were multiple taxes like service tax, value-added tax, central excise etc. that were imposed on several goods and services. After GST these multiple taxes have been replaced by one single tax system. Some of the common trading partners
Expert tips Latest Breaking News, Pictures, Videos, and Special Reports from The News and Tips Expert. Get the expert tips from the Blogs, Comments and Archive News on Newsandtipsexpert.blogspot.com