Wait...

Online India Export Import Data Search

Complete Training Video : Click Here

Custom Import Duty on Importing Goods.




Introduction

The concept of import duty is very wide and is almost applicable to every product or item imported to India barring a few goods like food grains, fertilizer, life saving drugs and equipment etc. Import duties form a significant source of revenue for the country and are levied on the goods and at the rates specified in the Schedules to the Customs Tariff Act, 1975.

Import through Sea
Territorial water extends up to 12 nautical miles into the sea from the coast of India and so the liability to pay import duty commences as soon as goods enter the territorial waters of India. No duty is livable on goods which are in transit in the same ship or if goods are in transit from one ship to another.

Basic duty

Basic Duty is a type of duty or tax imposed under the Customs Act (1962). Basic Customs Duty varies for different items from 5% to 40%. The duty rates are mentioned in the First Schedule of the Customs Tariff Act, 1975 and have been amended from time to time under the Finance Act. The duty may be fixed on ad –valorem basis or specific rate basis. The Central Government has the power to reduce or exempt any good from these duties.

Additional customs
Additional duty also known as countervailing duty or C.V.D is equal to excise duty imposed on a like product manufactured or produced in India. It is implemented under the Section 3 (1) of the Indian Custom Tariff Act. The Government has exempted all goods, when imported into India for subsequent sale, from the whole of the additional duty of customs leviable thereon under Sub-Section (5) of Section 3 of the Customs Tariff Act vide Customs Tariff Notification No. 102/2007 dated 14th September 2007. However, the importers will be first required to pay the said duty and thereafter required to claim the refund.

Special additional duty
Special Additional Duty of Customs is imposed at the rate of 4% in order to provide a level playing field to indigenous goods which have to bear sales tax. This duty is to computed on the aggregate of –

  • assessable value;

  • basic duty of Customs;

  • surcharge; and

  • additional duty of Customs leviable under section 3 of the Customs Tariff Act, 1975 (c.v.d.)

Anti-Dumping Duty
Dumping means exporting goods in a foreign market at a price which is less than their cost of production or below their "fair" market value. Dumping gives a hard competition to a domestic goods manufacturer. So, to counteract this dumping, the Indian government has formulated certain guidelines and policies. Imposing duty on imported goods is also one of them and is known as Anti-Dumping Duty.

All the laws related to anti-dumping duties are mention in the sections 9A, 9B and 9C of the Indian Customs Tariff Act (1975), and the Indian Customs Tariff Rules (1995). These laws are based on the Agreement on Anti-Dumping which is in pursuance of Article VI of GATT 1994.

Table of Contents


DO YOU NEED HELP?

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 21-04-2017
Customs Notification No. 17/2017
Seeks to exempt goods, falling under the First Schedule to the Customs Tariff Act, 1975, when imported into India by or along with a unit of the Army, the Navy, the Air Force or the Central Paramilitary Forces on the occasion of its return to India after a tour of service abroad, from basic customs duty (BCD), CVD and SAD subject to the specified conditions.

Date: 21-04-2017
Trade Notice No. 04/2018
Consideration of applications for grant of Licences/ Authorisations for import of “Gold Dore”

Date: 20-04-2017
Notification No.40/2017 - Customs (N.T.)
Rate of exchange of conversion of the foreign currency with effect from 21st April, 2017

Date: 20-04-2017
Customs Notification No. 16/2017
Seeks to exempt goods falling under chapter 30 of first schedule of Customs tariff Act 1975, for supply under Patient Assistance Programme run by specified pharmaceutical companies

Date: 19-04-2017
Customs Instruction No. 05/2017
Meeting with representatives of Foreign Missions -reg.

Date: 19-04-2017
DGFT Notification No. 03/2015-2020
Exemption from the application of quantitative ceiling and export bans on export of organic agricultural products (wheat, non-Basmati rice) and organic processed products (edibleoils and sugar) and enhancement of quantitative ceiling on export of pulses & lentils

Date: 19-04-2017
Customs Circular No. 15/2017
DRescinding Board Circular F. No. 528/213/87 - Customs (TU)

Date: 19-04-2017
DGFT Public Notice No. 02/2015-2020
Amendment in Standard Input Output Norms A-39 under Chemical & Allied Product Group –reg

Date: 18-04-2017
Customs Notification No. 14/2017
Amendment to Notification No.41/1999-Cus to align the said notification with para 4.36 of FTP 2015-20 by omitting the word 'for export' in the proviso to the notification

Date: 13-04-2017
DGFT Notification No. 02/2015-2020
TRQ for Raw Sugar: Amendment in import policy of raw sugar classified under Exim Code 170114 of Chapter 17 of ITC (HS), 2017–Schedule–1 (Import Policy