Social Sciences, asked by asmanashutosh, 5 months ago

how custom duties are charged on imported products? how could you calculate it? what's the limits for it?

Answers

Answered by GR4

Explanation:

The rate is 10% of the value of goods. GST is applicable on all imports into India in the form of levy of IGST. IGST is levied on the value of imported goods + any customs duty chargeable on the goods. Therefore, for most goods, total duty payable = BCD + Customs Handling Fee.

Passengers normally resident of India who are returning from a visit abroad may carry Indian currency upto Rs. 25,000/-. 7. In case the value of any one item exceeds the duty free allowance, the duty shall be calculated only on the value in excess of free allowance.

Hope this helps :)

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