Global Tax Guru: 07/01/2010

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We have specialization to provide advisory services on complex statutory Compliance and policy-related matters under areas of Logistics (Import & Export), Taxation (GST & Customs), Foreign Trade & Investment (DGFT), Food Safety (FSSAI), Weights & Measures (Legal Metrology), Wireless & Telecommunication Products (WPC) and Chartered Engineering services. Optimize your Supply chain as 4PL Company through our 3PL partners. Refund of duty/ credit/interest at Customs, GST and DGFT Appellate Service related to Customs, GST and Legal Metrology. Licenses and IEC from DGFT.

Friday, July 16, 2010

New Rupee symbol

The new Rupee symbol has been added to our Global Tax Guru site for import and export community.
Regards
Ravindra Kumar
Global Tax Guru

Import of Multichannel GSM/CDMA receivers, transmitters and transreceivers capable of receiving or transmitting or both in two or more frequencies simultaneously shall be “restricted”.

   Now actual user only allowed to import these items. There is no change in duty.
   There is a confusion ,whether this notification is restricting Mobile phone based on
   GSM or CDMA technology or Telecome equipment.
   The DGFT notification does not give any tariff heading classification along with policy restricting. But as per The Economic Times ,page 7,Delhi edition, it is restricting only telecom equipments.

Thursday, July 15, 2010

Global Tax Guru: Customs duty on LED 3D TV is now 26.85%

Customs duty on LED 3D TV is now 26.85%

LED TVs are technically a member of the LCD TV family. The display screen on a LED is a liquid crystal display the same as it is on any other LCD TV. The main difference between the two lies with different backlighting techniques which may change the picture quality characteristics dramatically ( Source: http://www.lcdtvbuyingguide.com/hdtv/led-vs-lcd.html)

if LED 3 D TV size is below 63 cm then ,it is to be classified under CTH 85287218,
otherwise,it is under CTH 85287219. Total duty @ 26.85%.

No import licence is required.
Regards
Ravindra Kumar
www.globaltaxguru.in

Tuesday, July 13, 2010

Confusion regarding customs duty on mobile phone

There is only one duty on mobile phone, which is duty of excise, called NCCD, which is equivalent to 1%. There
is also education cess @ 3 % on this 1%. Therefore, total duty on mobile phone is 1.03%. Further , mobile phone is charged excise duty @ 1.03% on its MRP price
( After abatement),if domestically produced. But, if mobile phone is imported than duty is calculated based on value ( Assessable value +customs duty) and abetted MRP value ( After abatement), which ever gives less duty.
Regards
Ravindra Kumar
www.globaltaxguru.in