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CUSTOMS
CUSTOMS ACT 1962 MAIN PROVISIONS RELATING TO IMPORTS & EXPORTS. CUSTOMS TARIFF ACT 1975 CUSTOMS DUTY CALCULATIONS
Organisation of Customs.
Customs Organisation Misistry of Finance Finance Secretary
Commisionarates of Customs
Various Ports
Commissioner
Imports
Exports
Adjudicating
Appeals
Preventive
Admin.
Asstt. Commissioner
Appriser Officer
Export Procedure.
ITC HS CODE.
Total 98 Chapters. Chapter No. 77 is kept blank for future additions. Chapter No. 98 is related to project imports.
ITC HS CODE
Harmonized System Code 8 Digit Code System. Universal up to 6 digit level. Indian Customs Tariff and Central Excise Tariff is fully aligned with HS at the four and six digit level.
ITC HS CODE
Purpose: To facilitate trade flow. Analysis of trade statistics in a co-ordinate manner. The coverage is based on the Harmonized System of Nomenclature developed by World Customs Organization Brussels.
ITC HS CODE
Two types of Restrictions; a) Prohibited. b) Restricted. Items which do not require any license indicated as Free. Where STE is indicated nominated State Trading Enterprise should make purchase or sale.
CIF Value Landing Charges Assessable Value Basic Customs Duty @10%. ACD @14% CESS @3%. Customs Cess @3% Total SCVD @4% Total Duty
CIF Value 100. Landing Charges- 1. Assesable Value 101. Basic Customs Duty 10.1 (@10%) ACD / CVD @14% - 15.55. CVD Cess @3% - 0.46. Customs Cess @3% - 0.78. Total 26.9 SCVD @4% - 5.11. Total Duty -32.01.