Customs Duty in India refers to the tax that is imposed on products when they are transported all across the global borders. The main aim behind levying this tax is to safeguard every country’s residents, economy, environment, jobs, etc. by regulating the import and export of products, especially restrictive and prohibited products in and out of any nation.
Every product has a predefined custom duty rate i.e. determined based on different factors like where such product was acquired, what such product is made of, and where such product was made. In addition to this, each product that you bring into India for the first time should be affirmed according to the customs rules.
Now Explore the Types of Custom Duty India!
Import Duty in India is levied almost universally on each product that is imported into a country. All these taxes are divided into:-
Now Explore the Role of Custom Import Duty after GST
All the formalities for import-export would change once goods and services tax (GST) is implemented in India on July 1st, 2017. Under this tax, certain kinds of taxes and duties such as Education Cess, Basic Customs Duty, Safeguard Duty, and Anti-dumping Duty would continue. On the other hand, CVD and SAD would be replaced by IGST (Integrated Goods and Services Tax).
On our online web portal, you can get any product’s custom duty along with GST and HS codes. If you are doing international trading you can get high quality and 100% genuine import export data to do market research. Consult us on the given below details:-
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