Customs Duty, basics, types and calculations

Calculation of customs duty payable is as follows, w.e.f. 173-2012 Seq. (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (M) Duty Description Assessable Value Rs Basic Customs Duty Sub-Total for calculating CVD (A+B) CVD C x excise duty rate Sub-total for edu cess on customs B+D Edu Cess of Customs 2% of E SAH Education Cess of Customs 1% of E Sub-total for Spl CVD C+D+F+G Special CVD u/s 3(5) 4% of H Total Duty Total duty rounded to Rs. 4 2 1 12 10 Duty % Amount 1,000 100.00 1,100.00 132.00 232.00 4.64 2.32 1,238.96 49.56 49.56 288.52 289 4.64 2.32 132.00 100.00 Total Duty

Notes Buyer who is manufacturer, is eligible to avail Cenvat Credit of D and I above. A buyer, who is service provider, is eligible to avail Cenvat Credit of D above. . A trader who sells imported goods in India after charging Vat/sales tax can get refund of Special CVD of 4% i.e. I above

Basics of Customs Duty