Excise Table Title For Free

In general, an excise tax is a tax is imposed on the sale of specific goods or services, or on certain uses. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco and other goods and services.

Tax systems in the U.S. fall into three main categories: Regressive, proportional, and progressive.

Excise taxes are commonly levied on cigarettes, alcoholic beverages, soda, gasoline, insurance premiums, amusement activities, and betting, and typically make up a relatively small and volatile portion of state and local and, to a lesser extent, federal tax collections.

Types of Excise Duty Basic Excise Duty: Basic Excise Duty is levied under Section 3 of the Central Excises and Salt Act, 1944.Special Excise Duty: Central Excise Duty is charged under Section 37 of the Finance Act, 1978.Education Cess on Excise Duty: According to Section 93 of Finance (No.

Excise taxes are taxes that are imposed on various goods, services and activities. Such taxes may be imposed on the manufacturer, retailer or consumer, depending on the specific tax.

Excise tax examples Alcohol (per-unit) Firearms/ammunition (per-unit) Indoor tanning services (percentage of price) Gasoline and diesel (per unit) Airline tickets (percentage of price)

Excise taxes, also known as selective sales or differential commodity taxes, are levied for the sales of specific goods or services. Excise taxes are commonly applied to items such as motor fuel, alcohol and tobacco. Excise taxes are considered indirect taxes because they are not charged directly to individuals.