Excise duty

Excise duty,

Definition of Excise duty:

  1. A percentage tax levied on a companys revenue, instead of (like income tax) on the companys income.

  2. A percentage levied on manufacture, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products).

  3. 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