Definition of Excise duty:
A percentage tax levied on a companys revenue, instead of (like income tax) on the companys income.
A percentage levied on manufacture, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products).
A fixed tax levied on an activity or occupation, such as the license fee charged from attorneys, doctors, and other professionals. Also called excise tax.
Meaning of Excise duty & Excise duty Definition