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India Import Duties for Machine Tools

India levies import duties on machine tools and accessories. The basic import duty for machine tools is 7.5% of the assessable value, while the duty for toolings is 10% of the assessable value. If toolings are imported along with machines, the duty rate for both is 7.5%. Additional duties include countervailing duty, cess, education cess, and special additional duty. Based on a sample calculation for a $100 CIF import, the total estimated duties amount to around 22% of the assessable value.

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Jibran Sakharkar
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298 views2 pages

India Import Duties for Machine Tools

India levies import duties on machine tools and accessories. The basic import duty for machine tools is 7.5% of the assessable value, while the duty for toolings is 10% of the assessable value. If toolings are imported along with machines, the duty rate for both is 7.5%. Additional duties include countervailing duty, cess, education cess, and special additional duty. Based on a sample calculation for a $100 CIF import, the total estimated duties amount to around 22% of the assessable value.

Uploaded by

Jibran Sakharkar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLS, PDF, TXT or read online on Scribd

India Import Duties

4/3/2009, Updated Annually

Duty Calculator

Source: AMT India

Prepared by AMT's Strategic Information & Research Department


Email: mpg@amtonline.org, Toll Free: 800-544-3597
IMPORT DUTY CALCULATION FOR MACHINE TOOLS & ACCESSORIES DATED- APRIL 2009
BASIC IMPORT DUTY FOR MACHINE TOOLS = 7.5% OF ASSESSABLE VALUE AMT INDIA
BASIC IMPORT DUTY FOR TOOLING= 10% OF ASSESSABLE VALUE
TOOLINGS IMPORTED ALONG WITH MACHINES WILL BE ASSESSED @7.5%
FOR SAKE OF CONVENIENCE LET CIF VALUE OF CONSIGNMENT BE 100
ASSESSABLE VALUE( AV) = TOTAL CIF VALUE + 1% TOWARDS HANDLING CHARGES= 101

CALCULATED
RATE IN % AMOUNT FORMULA
AV 101
A BASIC CUSTOM DUTY(B.D) 7.50 7.575 AV X BD RATE /100

B COUNTERVAILING DUTY ( CVD)


CVD @ 8% )          8.00 8.686 (AV+ BD AMOUNT)XCVD RATE / 100
CESS ON CVD@ 3% )                                        3.00 0.261 CVD AMOUNT X CESS RATE / 100
C TOTAL CVD AMOUNT 8.947 TOTAL OF CVD + CESS AMOUNT

D TOTAL CUSTOM DUTY 16.522 TOTAL OF B.D+ TOTAL CVD AMOUNT

EDUCATION CESS ON TOTAL CUSTOM DUTY 3% 3.00 0.496 TOTAL DUTY X EDU. CESS RATE / 100
E TOTAL CUSTOM DUTY + EDUCATION CESS 17.017

( AV + TOTAL CUSTOM DUTY WITH EDU.CESS)X


F SPECIAL ADDITIONAL DUTY @4% 4.00 4.721 SPECIAL DUTY RATE / 100

G TOTAL OF ALL DUTIES 21.738


APPROXIMATE DUTY IN % 22

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