Calculation on Import Duty Post GST
By: – Kishan Barai
Customs – Import – Export – SEZ
Dated:- 22-7-2017
Case 1.-Where product attracts IGST but not CVD
Suppose Assessable Value (A.V.) including landing charges =Rs. 100/-
(1) BCD- 10%
(2) IGST-12%
(3) Education cess – 2%
(4) Higher education cess -1%
In view of the above parameters, the calculation of duty would be as below:
(a) BCD = ₹ 10 [10% of A.V.]
(b) Education cess- ₹ 0.2 [2% of (a)]
(c) Higher education cess- ₹ 0.1 [1% of (a)]
(d) IGST- ₹ 13.236 [A.V.+(a) +(b) +(c)]x12%
Case 2. Where product does not attract CVD but attract IGST as well as compensation cess
Suppose Assessable Value (A.V.) including landing charges =Rs. 100/-
(1) B
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A.V.]
(b) CVD = ₹ 13.2 [ 12% of (A.V.+ BCD)
(c) Education cess- ₹ 0.464 [2% of (BCD+CVD)]
(d) Higher education cess- ₹ 0.232 [1% of (BCD+CVD)]
(e) IGST- ₹ 34.69 [A.V.+(a)+(b)+(c)+(d)]x 28%
Case 4. Where product attract CVD, IGST& Compensation cess:
Suppose Assessable Value (A.V.) including landing charges =Rs. 100/-
(1) BCD- 10%
(2) CVD- 12%
(3) IGST-28 %
(4) Education cess – 2%
(5) Higher education cess -1%
(6) Compensation cess-10%
In view of the above parameters, the calculation of duty would be as below:
(a) BCD = ₹ 10 [10% of A.V.]
(b) CVD = ₹ 13.2 [ 12% of (A.V.+ BCD)
(c) Education cess- ₹ 0.464 [2% of (BCD+CVD)]
(d) Higher education cess- ₹ 0.232 [1% of (BCD+CVD)]
(e)
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ROHIT as =
Calculation on Import Duty Post GST give in Indian Customs gears up for GST roll-out Guidance Note for Importers and Exporters PDf Page No. 9, 10 and 11 please select below link to see this.
http://www.cbec.gov.in/resources//htdocs-cbec/deptt_offcr/gst-advisory-importers-exporters-final-version-final.pdf
Dated: 24-7-2017
Reply By Ganeshan Kalyani as =
Nice article . Thanks
Dated: 26-7-2017
Reply By Kishan Barai as =
In view of the above parameters, the calculation of duty would be as below:
(a) BCD = ₹ 10 [10% of A.V.]
(b) Education cess- ₹ 0.2 [2% of (a)]
(c) Higher education cess- ₹ 0.1 [1% of (a)]
(d) IGST- ₹ 13.236 [A.V.+(a)+(b)+(c)]x12%
(e) Compensation cess- ₹ 11.03 [A.V.+(a)+(b)+(c)]x
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