How the customs duty is calculated?



Types of Customs Duty:

Customs duty on imports and exports

Customs duty is on imports into India and export out of India. Section 12 of Customs Act, often called charging section, provides that duties of customs shall be levied at such rates as may be specified under ‘The Customs Tariff Act, 1975', or any other law for the time being in force, on goods imported into, or exported from, India.

Similarity between excise and customs

Tips and Precautions On Importing from China

China has been thriving in recent years and has been named as the “World’s factory” because of its high production and low labor cost. It seems to be a trend now to import goods from China directly since there will be middleman in between and hence one can get the latest and cheapest products.

China offers a vast array of products and to track something down that is suitable, you are going to need someone who knows the country well. He or she can advise you very quickly if you are likely to find a company where you could place your order and thereby increase your margins.

Here are some of the things that you will need to establish before working with an import agent:

1.     Full product details with drawings / graphics

Free, Prohibited and Restricted items by India Customs

Customs is an authority or agency in a country responsible for collectingcustoms duties and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country

India Customs regulations:

Import Procedures In India

Import Procedures In India

Importers are required to register with the DGFT to obtain an Importer Exporter Code Number (IEC) issued against their Permanent Account Number (PAN), before engaging in EXIM activities. After an IEC has been obtained, the source of items for import must be identified and declared. The Indian Trade Classification – Harmonized System (ITC-HS) allows for the free import of most goods without a special import license. Certain goods that fall under the following categories require special permission or licensing, however: