What is excise duty liability in SAP IS-OIL-DS-TDP - Tariffs, Duties and Permits?

SAP Term: excise duty liability

• Component: IS-OIL-DS-TDP

• Component Name: Tariffs, Duties and Permits

• Description: Liability to pay duty to the excise authority. An Excise Duty Liability will generally be posted for material movements from tax status "untaxed" to tax status "taxed" e.g. from a duty-free to a duty-paid location.

Smart SAP Assistant

• Key Concepts: 
  Excise duty liability is a type of tax imposed on certain goods produced or sold within a country. It is a form of indirect taxation, meaning that the tax is collected from the producer or seller, rather than the consumer. In SAP IS-OIL-DS-TDP Tariffs, Duties and Permits, excise duty liability is used to calculate the amount of excise duty that must be paid on certain goods.
  
  How to use it: 
  In SAP IS-OIL-DS-TDP Tariffs, Duties and Permits, excise duty liability is used to calculate the amount of excise duty that must be paid on certain goods. The user can enter the relevant information such as the product type, quantity, and country of origin into the system to calculate the amount of excise duty that must be paid. The user can then use this information to determine the total cost of the goods.
  
  Tips & Tricks: 
  When calculating excise duty liability in SAP IS-OIL-DS-TDP Tariffs, Duties and Permits, it is important to ensure that all relevant information is entered accurately. This includes the product type, quantity, and country of origin. Additionally, it is important to check for any applicable exemptions or discounts that may apply to reduce the amount of excise duty that must be paid.
  
  Related Information: 
  Excise duty liability is just one type of tax that may be imposed on certain goods. Other types of taxes may include value added tax (VAT), sales tax, and customs duties. It is important to understand all applicable taxes when calculating the total cost of goods in SAP IS-OIL-DS-TDP Tariffs, Duties and Permits.