The imported goods are levied with a Basic Customs Duty
(BCD) on the assessable value. On the value thus arrived (after adding the
BCD) an additional duty or Countervailing Duty (CVD), equivalent to the
excise duty on like products (to countervail the same) is levied. Further an
Additional CVD of 4% is charged to countervail the sales tax in India. A
cess of 3% is charged on all the duties. In addition other duties like anti
dumping, safe guard duties are applicable in specific cases. The duties
normally are ad-valorem, but in some cases even specific duties are
leviable.
Goods / Raw Materials
Normally a BCD of 10% is charged along with a CVD of 12.5% and ACVD of 4%. This works out to a total of
29.441%
The duties (BCD) on the agricultural goods are 30%. In some cases
however they may be up-to 85%. For alcohols and spirits duties upto
Rs. 150 per liter are levied.
For minerals normal duty are 10%, 5%, 2%, NIL
The duty on the textile fabrics is with floor value on per sq. m
basis depending upon the kind of and weight of the fabric.
Capital Goods
o Capital Goods, machinery, equipments mostly covered under
chapter 84 and 85 normally attract duty of 7.5% + CVD and ACVD. This
works out to a total of 26.428%. Duties are lesser or zero for computers &
and computer parts and telecom related products under IT agreement.
The duties are further reduced by exemption notifications based on
the usage of goods for specified purposes and for specified
industries.
· Project Imports:
Project Imports enjoy duties of 5% plus CVD, ACVD. Please see
Project Imports section for more details.
