Answered: ods and Services i

Business

Accounting

ods and Services i

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter1: An Introduction To Taxation And Understanding The Federal Tax Law

Section: Chapter Questions

Problem 15DQ

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Q No. 3

Federal Excise Duty is an indirect tax. Explain on what type of Goods and Services is it applicable?

What shall be the treatment in case of imported goods on which the Customs Duty and sales tax are also applicable?

How is default surcharge applied in cases of erroneous refund, non-payment of duty within due time or the adjustment of duty not admissible to the tax payer.

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