How GST Differs from Excise Duty: A Comparative Analysis
Indirect taxes in India include Goods and Service Tax and Excise Duty, but there are substantial differences between these two taxes. GST is a general sales tax that applies to both goods and services, and Excise Duty is a tax on the manufacture of goods. GST is a tax that is applied to the supply of goods and services in India, but there are a few exceptions. GST does not apply to real estate, petroleum products, and alcohol intended for human consumption. GST is a destination-based tax, which means that it is assessed at the point of consumption rather than the point of production.