Friday, September 21, 2007

It is time to Import and not export goods from India

There is high rupee and low dollar.This make Import cheaper and Export costlier.

This is the time when you can import goods which you wanted to purchase from abroad but being costly you are postponing.

You have to send less foreign currency and also pay less duty on such import, if at all. Your duty free gift limit also increased in Dollar terms.Happy shopping.
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4 comments:

  1. KeyanSep 21, 2007, 7:02:00 PM

    Hello!

    Your website is very informative.

    But i have doubt, im planning to buy a dell laptop which costs around $850.

    My friend lives in US, can he send it to me as a gift(free of duty). If its not possible how much should be paying as duty.?

    Keyanmk@gmail.com that is my email id. It would be really helpful if you can mail me

    Thanks

    Keyan

    ReplyDelete
  2. Global Tax GuruSep 22, 2007, 8:38:00 AM

    Dear Karthikeyan,
    Thank you very much for appreciation. Price of your laptop/computer is more than Rs 10,000/-.therefore ,it is not eligible for free gift.Further, if you import through Post then you may have to pay fine and penalty in addition to the Duty.
    Hence ,if you import through courier, then, only you have to pay Duty but no fine and penalty.But you have to pay more on account of Freight as cost through Courier.
    You may decide as per your costing and time involved in importing.
    pl go through previous posts on similar question. you will get better idea.
    Also, do inform me how you come to my blog,what are tags or words are used by you.It will help me to organise blog in better way.If possible provide links to your URL or any other groups and forum to this blog.we can create more awareness of personal import and export through post and courier.
    with regards
    ravindra

    ReplyDelete
  3. UnknownOct 9, 2007, 7:39:00 PM

    Hi Ravindra,

    I Don't understand that when importing through courier why doesn't one has to pay fine.

    Thanks

    Deepak kumar

    ReplyDelete
  4. Global Tax GuruOct 9, 2007, 9:07:00 PM

    Dear Deepak,
    pl refer my post of Tuesday, September 05, 2006.There certain restriction on importing specific goods through Postal channel.For example laptop/computer , ipod, digital camera etc are freely importable through Air cargo/ seaport/Courier without any fine and penalty,but, same cannot be imported through postal ,if the price of these goods are more than rs 2000/-(cif).
    regards
    ravindra kumar

    ReplyDelete