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We help you in getting all the custom clearances when your goods/products have been levied with all applicable custom duties and local taxes. We also have relevant tools like custom duty calculator etc. to enable smooth process.
For calculating custom duty you can use custom duty calculator in the ICEGATE portal. While accessing the calculator you will be required to enter the HS Code of the product you are willing to import. Then you will be asked to enter description in 30 characters followed by selecting the country of origin. Click on Search and you will be able to see a list of goods that match your search criteria. Select one of them and you will be able to access a chart with all information related to the custom duty on selected item. This is a type of dynamic chart in which you can enter values to check the exact custom duty that you are liable to pay.
The Indian classification of the Customs Duty is based on HS code.
The IGST that is applied on all imports and exports is charged on the value of the good in addition with the primary customs duty on the commodity. This structure can be defined as:
Let's understand how to calculate import duty after GST in India with an example!
Suppose assessable value of product imported into India is INR 500/-. The rates of taxes on product (HS Code 330590) are, Basic Customs Duty (12.5%), IGST Rate (18%) and Compensation Cess (Nil).
Calculation of Total Import Duty on product
Connect2India has provided you this tool where you can check custom duty on any product from any country. You can browse through our products category and select the product to find out Custom duty.
Basic Duty is a type of duty which is imposed under the Customs Act (1962). It varies for different commodities from 5% to 40%. The duty rates have already been mentioned in the First Schedule of the Customs Tariff Act, 1975 and are amended from time to time under the Finance Act. The duty can be fixed on ad –valorem basis or specific rate basis. Only the Central Government has the power to reduce or exempt any good from these duties.
You can pay custom duty using ICEGATE which is an e-payment portal
Major difference between these is excise is the tax levied by the government on the goods produced in the country while customs duty is a tax levied on goods imported into the country from foreign countries.
Customs duty is paid on import of goods, by the importer and excise duty is paid on the manufacture of goods by the manufacturer
Anti-dumping duty is a type of tariff which is imposed to protect local businesses and markets from unfair competition by foreign imports. It is imposed by domestic government When it believes that the products being imported are priced below the fair market value.
As per the latest circular issued by the government, IEC is no more mandatory for all traders who have been registered under GST. In such cases, the PAN of the trader will be construed as new IEC code for the purpose of import and export.