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Custom Duty and Taxes Applicable on Import of Car,Goods in India

Know the tariff and taxes applicable on import of goods in India. Custom Duty on Cars, Electronics, Mobile Phones, Television, Apparels and Computers


Custom Duty Rates on Goods

Electronics (Cars, Music System including DVD Players) - 28.85%

Entertainment Goods Including IPod, Video Games, Digital Camera, CD Players and Televisions - 28.85%

Computers and Laptops Including DVDs, Printers and Accessories - 16.85%

Smart Phone Import - 6%

Educational Items and Books - No Duty


Custom Duty on Vehicles

100 % Custom Duty on Imported Cars in India having CIF Value > 40,000 $

60% Custom Duty on Bikes / Two Wheelers with Less than 800 CC Engine

75 % Custom Duty on Bikes / Two Wheelers with > 800 CC Engine


Computation of Custom Duty

If a good valuing upto 90 $ / INR 5000 is gifted in 1 year then custom duty is currently waived, however for rest its payable and calculated as as Percentage Mark up on the Assessable Value of the Good.

Assessable Value is generally calculated as Invoice Value + CIF (1% * Invoice) + Freight + Insurance + Logistics Charges ... For purpose of calculating customs, duty is calculated on Assessable value and Invoice value is ignored for purpose of calculation of this tax

Example to Calculate Custom Duty:- if you are buying LCD worth 800 $, the assessable value for calculation can be 920 $ and thus the Custom Duty for same would be additional 262$.

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Tuesday, 14 July 2020

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