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Levy is defined as a legal capture of property to satisfy an outstanding debt. In India, the Central Board of Indirect Taxes and Customs (CBIC) and Department of Income Tax are authorities that have the power to levy taxes.
LEVY definition: 1. an amount of money, such as a tax, that you have to pay to a government or organization: 2. (of…. Learn more.
The meaning of LEVY is the imposition or collection of an assessment. How to use levy in a sentence.
Levy definition: an imposing or collecting, as of a tax, by authority or force.. See examples of LEVY used in a sentence.
A levy is a sum of money that you have to pay, for example as a tax to the government.
Verb Forms. levy something (on somebody/something) to use official authority to demand and collect a payment, tax, etc. a tax levied by the government on excess company profits. A $30 million fine was levied against the company.
The noun levy refers to a charge, such as a tax, fine, or other fee, that is imposed on something. The verb levy is used to describe the act of imposing or collecting the charge. If you need to raise money, for example, you may decide to levy a fine on your family every time you have to make the coffee in the morning.
verb. uk / ˈlevi / us. levy a charge/fine/tax, etc. Add to word list. to officially demand money: [ often passive ] A new tax was levied on consumers of luxury goods. (Definition of levy from the Cambridge Learner's Dictionary © Cambridge University Press) Translations of levy. in Chinese (Traditional) 徵收額, 稅款… See more. in Chinese (Simplified)
Dec 8, 2023 · A levy is the legal seizure of property to satisfy an outstanding debt. Individuals who fail to pay taxes may be penalized by levies on tax refunds or property by the Internal Revenue Service...
LEVY meaning: an amount of money that must be paid and that is collected by a government or other authority.
