Understanding Excise Duty and Customs Duty The government imposes two distinct types of taxes on various goods: excise duty and customs duty. Customs duty applies to goods imported or exported, whereas excise duty applies to domestically made goods. These taxes are vital for raising revenue and regulating the import and export of goods within a […]
Difference between shipment and cargo
Distinguishing Between Shipment and Cargo Cargo and shipments are two crucial elements of the transportation and logistics sectors. They vary greatly from one another, even if they have some commonalities. Cargo is the actual goods being carried, whereas shipment refers to the act of transferring them. The modes of transportation, handling and packing, paperwork, delivery […]