What does AED mean in INTERNATIONAL BUSINESS
Additional Excise Duty (AED) is a tax that is imposed on specific goods within India by the Indian Central Government. It is a type of indirect tax and is collected from manufacturers and producers as well as importers of specified goods. AED is charged in addition to other types of taxes, such as Central Value Added Tax, which may already be incurred when purchasing these items.
AED meaning in International Business in Business
AED mostly used in an acronym International Business in Category Business that means Additional Excise Duty
Shorthand: AED,
Full Form: Additional Excise Duty
For more information of "Additional Excise Duty", see the section below.
Essential Questions and Answers on Additional Excise Duty in "BUSINESS»INTBUSINESS"
What is Additional Excise Duty?
Additional Excise Duty (AED) is a tax that is imposed on specific goods within India by the Indian Central Government. It is an indirect tax applied to manufacturers and producers, as well as importers of certain items.
How does Additional Excise Duty work?
AED is charged in addition to other taxes like the Central Value Added Tax that could already be incurred when purchasing these items. The AED helps to discourage manufacturing companies from overcharging for their products, allowing for more fair pricing.
What types of goods are subject to Additional Excise Duty?
Items such as petrol, beer, cigarettes, luxury cars and motorcycles are subject to AED taxation by the Indian Central Government.
How much money does the Indian government raise through Additional Excise Duty?
The Indian government raised an estimated billion in 2019-2020 through AED taxation on specified goods. This money was then used to fund various welfare and development projects throughout India.
Who pays Additional Excise Duty?
Manufacturers, producers and importers of specified goods are liable for payment of AED taxation in India. Consumers will also indirectly pay this tax when they purchase any item subjected to AED tax.
Final Words:
Additional Excise Duty (AED) serves an important purpose in helping the Indian government raise funds for many welfare programs throughout the country while also providing fairness in pricing models from businesses who may try to take advantage of customers with exorbitant prices otherwise unchecked by taxation measures like this one.
AED also stands for: |
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| All stands for AED |