Custom import duty is a tax which is applicable on all the products imported across the world. Everyone who is involved in the international import business must pay this tax for every importation of products. It is considered the major source of revenue for almost every country. It is important to know that the calculation of custom duty on import products is done based on the assessed value of an imported product and not the invoice value.
It is one of a tax which is pertinent on all the products imported across the world. Everyone who is involved in the international import business must pay this tax for every importation of products. It is levied generally on the basis of weight, size and dimensions of the products. WE help in understanding the importance of custom import duty which is considered the major source of revenue for almost every country. It is collected by the customs authorities of a country. It may also be levied to protect the domestic industry from external rivalry. It is essential to know everything about custom duty for everyone who is involved in the business of import and someone who is planning to enter.
It is important to understand the total amount of tax which is applicable on all the products imported across the world. The applicable tax is totally depends on the type and quantity of goods. This calculator plays a very import role in the business of importation because it explains about the taxes which are applicable on all the products imported in India. For every active trader, this Custom Duty Calculator plays a very essential role to calculate the extra charges which are applicable on all the imported products.
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