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    India Import Duties: 4/3/2009, Updated Annually

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    Jibran Sakharkar
    India levies import duties on machine tools and accessories. The basic import duty for machine tools is 7.5% of the assessable value, while the duty for toolings is 10% of the assessable value. If toolings are imported along with machines, the duty rate for both is 7.5%. Additional duties include countervailing duty, cess, education cess, and special additional duty. Based on a sample calculation for a $100 CIF import, the total estimated duties amount to around 22% of the assessable value.

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    India Import Duties: 4/3/2009, Updated Annually

    Uploaded by

    Jibran Sakharkar
    47 views2 pages
    India levies import duties on machine tools and accessories. The basic import duty for machine tools is 7.5% of the assessable value, while the duty for toolings is 10% of the assessable value. If toolings are imported along with machines, the duty rate for both is 7.5%. Additional duties include countervailing duty, cess, education cess, and special additional duty. Based on a sample calculation for a $100 CIF import, the total estimated duties amount to around 22% of the assessable value.

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    IndiaDutyCalculator

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    India levies import duties on machine tools and accessories. The basic import duty for machine tools is 7.5% of the assessable value, while the duty for toolings is 10% of the assessable value. If toolings are imported along with machines, the duty rate for both is 7.5%. Additional duties include countervailing duty, cess, education cess, and special additional duty. Based on a sample calculation for a $100 CIF import, the total estimated duties amount to around 22% of the assessable value.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    47 views2 pages

    India Import Duties: 4/3/2009, Updated Annually

    Uploaded by

    Jibran Sakharkar
    India levies import duties on machine tools and accessories. The basic import duty for machine tools is 7.5% of the assessable value, while the duty for toolings is 10% of the assessable value. If toolings are imported along with machines, the duty rate for both is 7.5%. Additional duties include countervailing duty, cess, education cess, and special additional duty. Based on a sample calculation for a $100 CIF import, the total estimated duties amount to around 22% of the assessable value.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 2

    India Import Duties

    4/3/2009, Updated Annually

    Duty Calculator

    Source: AMT India

    Prepared by AMT's Strategic Information & Research Department


    Email: mpg@amtonline.org, Toll Free: 800-544-3597
    IMPORT DUTY CALCULATION FOR MACHINE TOOLS & ACCESSORIES DATED- APRIL 2009
    BASIC IMPORT DUTY FOR MACHINE TOOLS = 7.5% OF ASSESSABLE VALUE AMT INDIA
    BASIC IMPORT DUTY FOR TOOLING= 10% OF ASSESSABLE VALUE
    TOOLINGS IMPORTED ALONG WITH MACHINES WILL BE ASSESSED @7.5%
    FOR SAKE OF CONVENIENCE LET CIF VALUE OF CONSIGNMENT BE 100
    ASSESSABLE VALUE( AV) = TOTAL CIF VALUE + 1% TOWARDS HANDLING CHARGES= 101

    CALCULATED
    RATE IN % AMOUNT FORMULA
    AV 101
    A BASIC CUSTOM DUTY(B.D) 7.50 7.575 AV X BD RATE /100

    B COUNTERVAILING DUTY ( CVD)


    CVD @ 8% )          8.00 8.686 (AV+ BD AMOUNT)XCVD RATE / 100
    CESS ON CVD@ 3% )                                        3.00 0.261 CVD AMOUNT X CESS RATE / 100
    C TOTAL CVD AMOUNT 8.947 TOTAL OF CVD + CESS AMOUNT

    D TOTAL CUSTOM DUTY 16.522 TOTAL OF B.D+ TOTAL CVD AMOUNT

    EDUCATION CESS ON TOTAL CUSTOM DUTY 3% 3.00 0.496 TOTAL DUTY X EDU. CESS RATE / 100
    E TOTAL CUSTOM DUTY + EDUCATION CESS 17.017

    ( AV + TOTAL CUSTOM DUTY WITH EDU.CESS)X


    F SPECIAL ADDITIONAL DUTY @4% 4.00 4.721 SPECIAL DUTY RATE / 100

    G TOTAL OF ALL DUTIES 21.738


    APPROXIMATE DUTY IN % 22

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