Global Tax Guru: Now at least 4% reduction in duty for goods imported for business and trading purpose

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Wednesday, September 19, 2007

Now at least 4% reduction in duty for goods imported for business and trading purpose

There is reduction in duty at least 4% if goods are imported for selling purpose in India.First you have to pay 4 % special additional duty at the of import and then you have to file refund claim to the customs department. The refund is eligible only when you have claim filed within time limit, Sale invoice proof of payment of sale tax on the imported goods and other conditions of section 27 of the Customs Act 1962( Ref-Notification No. 102/2007-Customs ).
This reduction is on goods imported for trading purpose.The goods for personal use are not exempted from such special duty.
Any claim of refund of excess duty paid for post parcels are to be filed at Foreign Post office only. The reund claim of excess duty for courier goods at Air Cargo Complex.