Could you please tell me in detail about excise duty and down payment?
By: kamal jeet on 21 may 2015
Hello Kamal Jeet..
An excise duty is a kind of tax that is charged on goods that are produced within the country. It is generally revised with the budget that is introduced in the parliament which somewhat effect the prices of cars or any other goods in general. Down payment is one part of the total payment that is generally paid as a cash installment upfront before finalising the transaction.
Excise duty is government levied charges against the goods produced within country. Also we have a list of such items including cars on which these charges are deducted. These ar mandatory charges on all goods within country. The down payment is the minimum charges that is taken when any purchase is onset. The later payment goes with help of credit. On this car as well we have to pay excise duty.
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