For the calculation of Custom Duty following duties are levied:
1) Consider Assessable Value to be 1000 2) We Have Basic Customs Duty at 10%. Amount becomes 100. 3) This becomes sub-total for calculating CVD. 4) CVD ‘C’ X Excise duty rate at 12%. Amount becomes 132. 5) Sub Total for Edu Cess on Customs is 100+132 = 232 6) Edu cess of customs at 2% of (5) i.e. 2% of 232 = 4.64 7) SAH Education Cess of Customs 1% of (5) i.e. 2.32 8) Sub Total for Spl CVD = 1100+132+4.64+2.32 = 1238.96 9) Special CVD U/S 3(5) i.e. 4% of (8) = 49.56 10) Total duty if you all up = 100+132+4.64+2.32+49.56 = 288.52. i.e. 289.
I hope this calculation helps. Btw thanks for your query. Got to learn a new thing today. I did’nt know this few minutes back. 🙂 Thanks to http://www.dateyvs.com
Just to add to it… talk with a CHA (clearing agent) many goods imported from various countries have discounted basic custom duty. This is due to FTA or bi-lateral agreements.
Tejas Vishnu Nimbargi
For the calculation of Custom Duty following duties are levied:
1) Consider Assessable Value to be 1000
2) We Have Basic Customs Duty at 10%. Amount becomes 100.
3) This becomes sub-total for calculating CVD.
4) CVD ‘C’ X Excise duty rate at 12%. Amount becomes 132.
5) Sub Total for Edu Cess on Customs is 100+132 = 232
6) Edu cess of customs at 2% of (5) i.e. 2% of 232 = 4.64
7) SAH Education Cess of Customs 1% of (5) i.e. 2.32
8) Sub Total for Spl CVD = 1100+132+4.64+2.32 = 1238.96
9) Special CVD U/S 3(5) i.e. 4% of (8) = 49.56
10) Total duty if you all up = 100+132+4.64+2.32+49.56 = 288.52. i.e. 289.
I hope this calculation helps. Btw thanks for your query. Got to learn a new thing today. I did’nt know this few minutes back. 🙂
Thanks to http://www.dateyvs.com
Cheers!
Tejas
Tejas Vishnu Nimbargi
Hi Ajay,
Kindly confirm the above calculation for its correctness from an expert.
🙂 🙂
Amar Shah
Just to add to it… talk with a CHA (clearing agent) many goods imported from various countries have discounted basic custom duty. This is due to FTA or bi-lateral agreements.
Ajay Pal Singh
Thanx a lot for your effort. I am working with a customs agent. Let me get a break up and I will post it for your benefit.
Ajay Pal Singh
Thanx bro.
Ajay Pal Singh
This site is as confusing as Govt of India. I have been thru this site.
Puneet Sharma
This might be of some help – https://www.labnol.org/india/custom-import-duties/19306/