What are the types of taxes applicable on imported products in India?

In the business of import, one should know the importance of Custom Import Duty Calculator because it is the only medium to understand the total amount of tax which is applicable on all the products imported in a particular country. Import duty is totally depends on the type and quantity of imported goods. For every active trader in the world, this calculator plays a very indispensable role to estimate the extra charges or import duties which are applicable on all the imported goods.

Why do we need Custom Import Duty Calculator to Get Success in Import Trade Business?

In India, there are mainly 3 types of taxes which are required to pay by everyone who is involved in the business of importation. In the business of Indian import, it is required to pay import duty by everyone at the time of importing goods. Value added tax is a kind of consumption tax which is generally levied on the value of the goods. It includes passage costs, commission and insurance costs. One type of tax is completely depends on the type of imported goods such as agricultural levies, import duty and anti- dumping taxes. Excise Duty is one of three taxes which is not applicable on every product but on the products like whisky and wine.

Why do we need this calculator?

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. Custom Import Duty Calculator helps in understanding the total amount of tax which is applicable on all the products imported or exported across the world. The applicable tax is totally depends on the type and quantity of goods.