Customs duties are necessary to pay by international traders from India. However, some of the goods listed under emergencies are the exemption of paying customs duty. A few of the goods have to pay a higher duty as they are dumping of goods. Thus, it won’t be easy to know the duty rates of imports. It is advisable to check seair.co.in for more details on Indian customs tariff 2019 – 2020. You can check this by using Indian customs duty calculator online.
Types of custom duty in India
· Additional Customs Duty or Special CVD
· Anti-dumping Duty
· Basic Customs Duty or BCD
· Countervailing Duty or CVD
· Education Cess on Custom Duty
· Protective Duty
India follows the ad-valorem type of tax calculation. It is inclusive of some charges. The import duty differs with products. Import duty will be higher for any goods, which comes under the anti-dumping rules. However, customs duties are free for lifesaving medicines and some of the essential food products. It is advisable to follow the customs compliance of India.
Import duty GST India
Many of the products imported to India will have to pay import duties. From 01/07/2017, India follows goods and service tax or GST. Hence, one has to pay IGST for imported goods to India. It will help you if you could check custom duty rates in India 2020 for more detailed on the tariff. The Ministry of Finance governs it. Yet, the CBIC or central board of indirect taxes and customs checks this at India’s exit and entry points. Either, the customs department handles this in international air cargo and seaports of India. In this way, any goods coming to India without proper import duties will be kept on hold until they pay the right duty.
Import duty with GST is shown with the HS codes itself. Import duty in India after GST will be more than 18 to 40 per cent of the value of the goods. Either, there is a ten per cent customs duty on imported goods, which is based on the total goods value. An importer has to pay one per cent as handling charges by the customs department. The other charges included are educational cess at the rate of two per cent. It is better to look at these rates by using import duty calculator. You will get an instant result with IGST on imports. It is because the import duties differ with products you import to India.
SEAIR Exim Solutions is the best platform that offers actual information regarding custom tariff in India. We are a market research and export import Data Company that is the best source to get any type of product details including products hsn codes list, customs duty, GST rate, etc.
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