Custom Duty Calculator, Indian Custom Duty, Custom Tariff Rate

By Author: Kate Broad
Total Articles: 6
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Custom duty is a type of tax which is imposed by the Government of India. This duty is imposed on all materials that are imported or exported from India. Government generates huge revenue by way of this duty. Central Board of Excise and Customs (CBEC) is the main government body which controls the functions related to the custom duty of all products. CBEC is the part of Department of Revenue under the Ministry of Finance, Government of India. Custom rate is different for each products and it is defined by the Central Board of Excise and Customs under Customs Tariff Act, 1975.

Central Board of Excise and custom can change the custom duty rate from time to time according to the need of the industry and economy so there is an incessant need for importers and exporters to keep themselves abreast with the latest information about their business products. Also every importer and exporters would want to calculate the custom tariff amount applicable on the products which he is importing so that they do not have to face any difficulties after shipment is received.

We are one such b2b web portal providing the Custom ...
... Duty Calculator for all the products under the Central Board of Excise and Customs. Through this facility every Importer or trader can easily see the custom tariff rate and also the actual amount of custom duty payable on the assessable value of his imported goods. We provides this facility to its registered users so that they can easily see the latest custom duty rates on their products and calculate the amount of duty by simply entering the CIF value or Assessable value of their shipment. The site is a vast resource of other vital Exim information like circulars, HS code, Custom notifications, Central excise, Service tax, etc. This site can thus be used as a ready reference for the latest and the most up to date changes made by CBEC and other authorities. The user friendly interface available on the site is very useful for instant search. All you have to do is select the issuing authority, date range, notification/circular no or the subject of the notification/circular. It automatically displays the relevant result within a few seconds thus saving a lot of your precious time and effort.

Here is the illustration on how to calculate the Indian Custom Duty

Total customs duty is calculated o the assessable value of the goods. Assessable value is the total CIF Value +1% landing charge on the CIF value.

Total customs duty is divided into its various components:

(i) Basic Duty: It is calculated as a percentage of the total assessable value of the shipment. The rate is different for each 8 digit Hs code and is laid down in the first schedule of customs tariff act.

(ii) CVD or Additional Duty : It is calculated on the amount which is the sum of assessable value and Basic duty i.e., assessable value + basic duty x CVD rate.
(iii) Central excise education cess: It is levied over and above the CVD on the total value after including the basic duty and additional duty.

(iv) Custom education cess: It is levied on the total value obtained after adding the Basic duty + CVD + Central excise edu cess.

(v) Special CVD / Special duty : It is calculated on the total value obtained after adding the assessable value + Basic Duty + CVD + Central excise edu cess + Custom Edu cess.

www.cybex.in is leading online web portal serving the Exim community for a long time now. You can check the most updated Custom Duty Calculator , Indian Custom duty, DGFT Notifications, Custom Notifications, Indian Custom Duty 20011, Custom Tariff rate etc on www.cybex.in absolutely free of cost.