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The Excise Tax Act sets out the excise tax rate for each of these goods. When goods are made in Canada, excise tax is payable when the goods are delivered to the buyer. When they are imported, excise tax is payable by the importer, at the time the goods were imported.

The primary function of these duties and levies is to ensure a constant stream of revenue for the State, with a secondary function of discouraging consumption of certain harmful products; i.e. harmful to human health or to the environment.

Since FET is 12% of the retail sales price on a taxable item, it is critical for the seller to be able to accurately determine when the tax is applicable and precisely how much is due.

Excise duties are imposed under the Excise Act, 2001 on spirits, wine, tobacco products, cannabis products and vaping products produced in Canada. For more information on the application of excise duties on those products, go to Excise duties technical information under the Excise Act, 2001.

Federal Excise Taxes (FET) NBAA - National Business Aviation Association.

While excise duty is levied on goods produced or manufactured within the country, custom duty applies to the goods that are sold in India but were produced in a different country. Excise duty is to be paid by the manufacturer of the goods and not by the consumer. Custom duty is to be paid by the importer of the goods.

Specific Tax ? refers to the excise tax imposed which is based on weight or volume capacity or any other physical unit of measurement. Ad Valorem Tax ? refers to the excise tax which is based on selling price or other specified value of the goods/articles.