Beruflich Dokumente
Kultur Dokumente
11/22/12
waters or which has been in Indian Customs Waters can be confiscated which 11/22/12 is constructed or fitted in any manner for
11/22/12
levied u/s 12 of Customs Act is generally 10% of non-agricultural goods, w.e.f. 1-32007. Total duty payable generally comes to 26.85%. The rate of customs duty applicable will be as provided in Customs Act, subject to exemption notifications, if any, applicable. In case of imports from preferential area, the preferential rate is applicable, if mentioned in the Tariff. It is needless to mention that if partial or full exemption has been granted by a notification, the effective rate (as per 11/22/12 notification) will apply and not the tariff
(B) Additional Customs Duty u/s 3(1) (CVD) : Additional Customs Duty is often called Countervailing Duty (CVD). Additional duty is levied under section 3(1) of Customs Tariff Act to counterbalance impact of excise duty on indigenous manufactures, to ensure level paying field. This duty is equal to excise duty levied on a like product manufactured of produced in India. If like article is not produced or manufactured in India, the excise duty that would be leviable on that article had it been produced in India is the base. General excise duty rate is 10.30% w.e.f. 27-2-2010 (10% basic plus 2% education cess and Secondary and Higher (HAS) Education cess of 1%). CVD is payable on assessable value plus basic 11/22/12 customs duty. In case of products covered under MRP
(C) Special CVD : This is payalbe @ 4% on imported goods u/s 3(5) of Customs Tariff Act. This is additional duty leviable u/s 3(1) and 3(3) of Customs Tariff Act. This is in lieu of VAT/Sales Tax to provide level playing field to Indian goods. Traders importing goods can get refund. CVD is not payable if goods are covered under MRP valuation provisions. (D) Education Cess : Education Cess of customs @ 2% and SAH (Secondary and Higher) Secondary Cess of 1% is11/22/12 payable.
(E) Total Duty : Total import duty considering all duties plus education cess on non-agriculture goods is generally 26.85%. (F) Other Duties : NCCD (National Calamity Contingent Duty) has been imposed on a few articles. In addition, on certain goods, antidumping duty, safeguard duty, protective duty etc. can be imposed. Cess is payable on some goods imported/exported.
11/22/12
(G) Safeguard Duty : This can be imposed if large imports are causing serious injury to domestic industry. In additions, product specific safeguard duty on imports from China can be imposed.
11/22/12
(H) Anti Dumping Duty : Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value. This is an unfair trade practice which can have a distortive effect on international trade. Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. Thus, the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. The use of anti dumping measure 11/22/12 as an instrument of fair competition is
Antidumping duty is leviable u/s 9A of Customs Tariff Act when foreign exporter exports his good at low prices compared to prices normally prevalent in the exporting country. Dumping is unfair trade practice and the anti-dumping duty is levied to protect Indian manufacturers from unfair competition. Margin of dumping is the difference between normal value (Normal value is the comparable price at which the goods under complaint are sold, in the ordinary course of 11/22/12 trade, in the domestic market of the
Benefits accruing to local industry due to availability of cheap foreign inputs is not considered. This is a drawback. CVD is not payable on antidumping duty. Education cess and SAH education cess is not payable on anti-dumping duty. In case of imports from WTO countries, antidumping duty can be imposed only if it cause material injury to domestic industry in India. Dumping duty is decided by Designated Authority after enquiry and 11/22/12 imposed by
Particulars
Duty %
(A) Assessable Value (B) Basic Custom Duty 10% (C) Sub total for CVD (D) CVD (12% of C) 12% (E) Sub Total for Cess (B+D) (F) Edu Cess (2% of E) 2%
46.40
(G) SAH Edu (1% of E)
1%
23.20
(H) Sub Total for Special CVD (I) Spl CVD (4% of H)
495.58
4%
Note:
(1) Buyer who is Manufacturer is eligible to
India after charging VAT/ Sales Tax can get refund of Special CVD of 4 % I above.
11/22/12
Example
Ms. Sharma imported certain goods weighting 1000 kgs. With CIF value US $ 40,000. Exchange rate was 1 US $ = Rs. 45 on the date of presentation of bill of entry. Basic customs duty is chargeable @ 10% and educational cess as applicable. There is no excise duty payable on these goods, if manufactured in India. As per notification issued by the Government of India, antidumping duty has been imposed on these goods. The anti-dumping duty ill be equal to difference between amount calculated @ 60 per kg. and landed value of goods. You are 11/22/12 required to compute custom duty and anti-
Particulars
Duty %
Total Duty
(40000 * 45) + (1% landing charges) (B) Basic Custom Duty 10% 1,81,800 1,81,800 1,81,800 3,636 1% 1,818 20,05,254 80,210.60 80,210.60 2,67,464.60 2,67,465 3,636
(E) SAH Edu. Cess 1% of C 1,818 (F) Sub Total for Special CVD (G) Special CVD (H) Total Duty (I) Total Duty rounded To 4%
TRANSACTION VALUE Section 14 (1) of customs act states that value of imported and exported goods will be transaction value of such goods i.e.the price actually paid or payable for the goods when sold for export to India for delivery at the time and place of importation or for export from India for delivery at the time and place of exportation, where buyer and seller of the goods are not related and price is the sole consideration for sale, subject to such other conditions as may be specified in the rules made in this behalf. 11/22/12
Price in case of High Sea Sale HSS means sale of goods by transfer of documents before clearance of goods from customs. In case of HSS, price charged by importer to asseessee would from the assessable value and not the invoice issued to the importer by foreign supplier. Valuation should be on basis of last sale price. Even if there are more than once high sea sales, the last sale price should be taken for purpose of valuation, as that is the price at which final importation has been caused. 11/22/12