Monday, June 10, 2013

How Much Customs Duty You Have to Pay for Importing Goods into India


 You have to pay taxes, also known as customs duty, for importing mobile phones, tablets and other goods from a foreign country into India. These taxes are often payable at the port of entry (like the airport).
A package forwarding service service in India has shared the current tariff chart and it should give you a good idea of what kind of taxes you can expect to pay for importing the various categories of items into India. Here’s the chart updated after the 2013 Union Budget:



Category
Items to import
Customs Duty
BooksBooks (educational)0%
ComputersLaptop, Computers16.85%
Computer Printers16.85 %
Laptop Battery28.85%
Hard Disk (Internal)6.03%
Hard Disk (External)16.85%
Processor6.03%
Other Computer Peripherals16.85%
Cables & Wires25.85%
TabletsiPad16.85%
MobileMobile Phones6.00%
Phone Accessories28.85%
Music & GamesDVD/ CDS (movie)28.85%
Software DVD16.854%
DVD Players, Blu-Ray28.85%
iPod28.85%
Video games28.85%
Gaming Consoles28.85%
Photography
Digital / Video Cameras28.80%
Digital Still Image Camera16.854%
Web cameras28.85%
Camera Lens28.85%
Everything ElseTelevision28.85%
Sports Equipment16.85%
Hand (wrist) Watches28.85%
Cosmetics, Stationery, Toys28.85%
Sunglasses28.85%
Electronics and Car parts28.85%
Apparel23.90%
Shoes28.85%
Kitchen, Dining28.85%
Artificial Jewelry28.85%

How is Customs Duty Calculated?

It is important to note that the calculation of import duty is done based on the assessed value of an imported product and not the invoice value. Let me explain.
Say you have purchased a mobile phone from Amazon or eBay and have asked the seller to ship it to India. The value of the mobile phone listed in the invoics is $500. The customs officer in India may however assess the product’s value as, say, $600 and in that case, you will have to pay 6% customs duty on $600 (the assessed value) and not $500 (the invoice value).
And other than customs duty, you’ll have to pay shipping charges, broker fees, CESS and service tax for getting an item into India.
There are no taxes on importing books while the customs duty on mobile phones has recently been hiked from 1% to 6%. Also, you may import goods up to the value of INR 5000 duty free provided they are sent as gifts to you.

courtesy:-labnol.org

1 comment:

  1. Hi, i am going to start an international business, and was searching a list regarding Custom Duty for Import in India. Your blog helped to in better understanding of custom duty rates. Thanks for such a nice and informative blog.

    ReplyDelete