Excise Duty

Excise duty is a type of tax levied by the government on certain goods produced within a country, such as alcohol, tobacco, gasoline, and luxury items. This tax is usually included in the price of the product and paid by manufacturers or producers before the goods reach consumers. The primary purpose of excise duty is to generate revenue and sometimes to discourage the consumption of products that may be harmful or socially undesirable. It helps regulate the market and can influence consumer behavior while contributing to public finances.