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Types of Custom Duty in India

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:-

  • BCD (Basic Customs Duty) - It is imposed on the value of products at a specific rate. This is fixed at a specified rate of ad-valorem basis.
  • CVD (Countervailing Duty) – It is charged by the Central Government when a country is paying the subsidy to the suppliers who are exporting products to India.
  • Additional Customs Duty or Special CVD- It is levied on imported products to equalize imports with local taxes including VAT, service tax and other domestic taxes.
  • Protective Duty- It is charged to safeguard the interest of our local domestic industries. This is calculated based on loss suffered by our local industries. 
  • Anti-dumping Duty- Big suppliers from abroad may export products at very lowest rates as compared to prices in the domestic marketplace. It cripples the domestic industry or to organize their extra stock.
  • Education Cess on Custom Duty- It is charged as a percentage of aggregate duties of customs.

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:-

Phone No: +91-11-41325515, +919990020716

Email Id- info@seair.co.in

  • Seair Exim
  • 16-Jul-2019

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