Customs Duty in India: Calculation, Types, & Rates

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Customs Duty refers to the tax that is imposed on the transportation of goods across international borders. It is levied by the government on the import and export of goods. Companies that are in the export-import business need to abide by these regulations and pay customs duties as required. Customs duty is the fee collected by authorities for moving goods and services to and from that country. The tax levied for the import of products is referred to as import duty, while the tax levied on the exported goods is known as export duty.

The primary purpose of customs duty is to raise revenue and safeguard the domestic business, jobs, the environment, industries, etc., from competitors in other countries. Moreover, it helps reduce fraudulent activities and the circulation of black money. In this article, you will learn all about customs duty in India, including its various types, the basis on thailand phone number list which it is calculated, its structure, the procedure to pay it, and more.

Customs Duty in India
On What Factors Are Customs Duties Calculated?
Customs duty in India is calculated based on various factors such as:

The place of acquisition of goods

The material of goods
Weight and dimensions of the goods, etc
Moreover, if you are bringing a good for the first time in India, you must declare it as per the customs rule.

Customs Duty In India
India has a well-developed taxation structure.