The Central Government has given full exemption from basic customs duty on all drugs and Food for Special Medical Purposes imported for personal use for treatment of all Rare Diseases listed under the National Policy for Rare Diseases 2021 through a general exemption notification.
Exemption to goods from Customs duty only when imported against an Advance Licence (without Actual user condition) – Notification No. 107/95-Cus dated 2.6.1995. 12. Exemption to inputs for leather and textile garments when imported against a Value Based Advance Licence issued on or after 19.9.1995 – Notification No.
Subject to certain conditions, goods are free from import duties when they concern the following.Personal property:Goods of negligible value, non-commercial goods, capital goods and goods contained in travellers' personal luggage:Agricultural, biological, chemical, pharmaceutical and medical products:
Types of custom duty in India
|Type of custom duty
|Basic Customs Duty (BCD)
|BCD is decided according to the HS code of the product and its origin. It can be from 0% to 100%.
|Countervailing Duty (CVD)
|0% to 12% depending on the product
|Special Additional Duty (SAD)
|4% where applied
All dutiable articles, intended for personal use,imported by post or air , and exempted from any pro of India Custom Duty and Import Tariff and Tax. Important Information: Duty Calculation with SAARC Member Countries.
Ambergris, castoreum, civet, and musk; cantharides; bile, whether or not dried; glands of wild animals. Fish nails. Fishtails. Other fish waste.
If someone or something is exempt from a particular rule, duty, or obligation, they do not have to follow it or do it. Men in college were exempt from military service. [
Launched by the Ministry of Commerce and Industry, the Duty Exemption scheme allows duty-free import of inputs that are required for the production of export. Under the Duty Remission Scheme, post export replenishment of duty is provided on inputs that are used in the export products.
Tax and duty-exempt importation – refers to the bringing in of goods from the country of origin through a normal business transaction process wherein the payment of the corresponding duties on the goods involved as well as the value added tax (VAT) for the said transaction, are waived.
Avoid unwanted fees arising from incorrect declarations
Shipping used products as gifts is not allowed. Customs duty will be charged with additional fines and penalties if you do. When moving back to India, shipping used items is only permitted with accompanied baggage.
Customs duty is a form of indirect tax which is imposed at the time of both import and export of goods and services. The tax which is imposed on the import of goods and services are is known as Import duty and for export of goods and services are known as Export duty.
a) The 'Duty Free Allowance' for an Indian resident / foreigner residing in India / a tourist of Indian origin, not being an infant and arriving from any country other than Nepal, Bhutan and Myanmar is Rs. 50,000/- including two litres of alcoholic liquor/wine and 100 Cigarettes or 25 Cigars or 125 gms of tobacco.
In the present scenario, import of goods up to the value of Rs. 5,000/- is allowed as gift, duty free. This exemption is allowed only for bonafide gifts imported by air or post. For the purpose of calculation of this value of Rs.
More than 2 litres of alcohol or wines. Any form of gold or silver, other than jewelry or ornaments. Flat screen tvs with liquid crystal display, light emitting diode or plasma tvs. Narcotics or psychotropic substances.
Import requirements in Indiaensuring licensing and compliance before the shipping of goods.arranging for transport and warehousing after the unloading of goods.getting customs clearance and paying taxes before the release of goods.
Service procedureLogin or Register to the Ministry services digital platform.Apply to “Request Registration of Industrial Input for Customs Duty Exemption”Payment of fees.Application review by the designated employee to check application data and attachments.
Children are exemptions, or deductions, on tax forms; the more children you have the less taxes you pay. Some non-profits are tax-exempt; their exemption means they pay no taxes at all. Exemptions also spare people from fighting in wars and doing some jobs.
Duty exemptions are offered by the government through certain specialized programs (NAFTA, GSP, etc.) where specific criteria are met. Importers must be careful to use "reasonable care" in properly assessing eligibility for and in properly documenting a duty exemption.
Unfortunately, there's no legal way to avoid import duty—if the duty is owed, someone has to pay it. However, there are ways that you can avoid delays when importing goods from abroad and make sure you're not paying import duties that you don't actually owe.
Duty Exemption Scheme like Advance Authorisation and Duty Free Import Authorisation enables exporter to import duty free inputs required for goods to be exported. The exporter can also purchase domestic inputs under this scheme by obtaining Invalidation letter.
With Subject to IGCR rules, Exceptions are Introduced to allow duty free imports on items like handicrafts, leather goods and apparel.
On the import of goods, only the integrated tax along with the basic customs duty will be chargeable. After the implementation of GST, it becomes essential for traders to understand how the tax calculation in trade business takes place.
Under GST regime, there are two main import duties – Basic Custom Duty (BCD) and Integrated Goods and Services Tax (IGST). However, additional import duties like Compensation Cess, Safeguard Duty and Anti-Dumping Duty are levied on some goods.
There's no limit, however, to how much foreign currency you can bring into India. Although, you will have to declare it if the amount exceeds US$5,000 in notes and coins, or US$10,000 in notes, coins, and traveller's cheques².
Do I have to pay any tax on the foreign currency being imported to India There is no tax on the foreign currency you are importing to India. You just need to file a declaration if the currency value is above USD 5,000 or foreign exchange is above USD 10,000.