Difference between Duty and Tariff

  

The terminology Duty and Tariff these two are types of taxes that are executed by government on the import and export of various items to and from foreign countries around the world. Considering the fact that both are taxes and the two words (Duties and tariffs) are very similar to one another in their purposes and characteristics.It looks like quite a very simple and an easy question, even though on many occasions an experienced and a qualified person engaged in international trade can’t explain the difference. Most administrators involved use the terms interchangeably, that could be right, although in some cases one is more appropriate rather than the other as with the following examples.
“How much duty did you have to pay?”
“The minister spoke about the economic effect of tariffs.”
A "duty" is the trading volume persons be required to pay as outlined by a "tariff". There's a "Tariff Classification" determined by a "Harmonized Code".
So "duty" means "money" to be paid. It includes import duties and export duties which differ from country to country. As an instance, in many country persons have to make a down payment of certain % of the value of the commodity as an assurance every time they import a specific thing temporally.
So, at the time you import anything the amount of the duty to be paid varies according to the Tariff. There is a Tariff Classification which notifies you when you have to pay no duties, % of the value of the goods.The Tariff Classification is calculated on an international code termed as Harmonized Code. For individuals who don't provide the code in the paper forms, the Customs Officer would not determine what is being imported, so additional facts and information will be required either from origination or from the consignee to determine which code applies and match it to the Tariff Classification to determine the duties.
Don't get mixed up
Just remember,when we speak about the system of government-imposed duties or the list of such duties, the word tariff is more appropriate, but we use duty or customs duty when we mention specific amounts.