customs duty on speaker import

[spanchal]

But for selling purpose what duty to pay

In case you are a seller with a GST number and also have an IEC code, then you will be charged by the above duty table, like the 20% customs duty, but you have to Import in large quantities, like 5 or more units. Otherwise, the same 42% duty is applicable.

Also, you have to visit before the customs superintendent's office with your documents and invoices where your parcel is landing on the same Day (e.g., Mumbai foreign post office) to avoid overcharging customs duty; sometimes they miscalculate value of the parcel.

If you miss above step then you have to pay whatever customs duty they are charging once your customs duty is calculated then there will be no option left for you other then payment.

 

[hardcore_gamer99]

In case you are a seller with a GST number and also have an IEC code, then you will be charged by the above duty table, like the 20% customs duty, but you have to Import in large quantities, like 5 or more units. Otherwise, the same 42% duty is applicable.

Also, you have to visit before the customs superintendent's office with your documents and invoices where your parcel is landing on the same Day (e.g., Mumbai foreign post office) to avoid overcharging customs duty; sometimes they miscalculate value of the parcel.

If you miss above step then you have to pay whatever customs duty they are charging once your customs duty is calculated then there will be no option left for you other then payment.

if i have gst and iec, and want to become distributor for something in india, then how will process go i live far from bombay.

 

[hardcore_gamer99]

I have imported few speakers with out IEC. I have been charged 42% on the purchase value.

Some carrier collect 70% from buyer or consignee. But what they pay to customs is different. May be nothing some times or 42%

import policy free means?

 

[Analogous]

If you decide to import be prepared to feel discombobulated. (https://www.google.com/search?q=discombobulated&ie=UTF-8&oe=UTF-8&hl=en-in&client=safari)
You will feel better once the delivery happens
I imported an amplifier from the UK. The courier person called and asked if I would agree to pay an amount that was a bit more than half the cost of the item. I did not have a choice and never received the promised customs payment bill receipt which was promised.
Once I received the amplifier I set it up and got the music going and started feeling better though the anger and frustration never totally disappeared.

 

[kratu]

It depends on many things..

If you have opted for EMS International parcel shipping, you can expect a duty of about 42-46 % on CIF value ( Cost + insurance + freight ). Your package will be cleared and delivered by India post, they will collect the charged custom duty from you at the time of delivery.

If you opt for DHL, Fedex or UPS they usually will charge you more than 42-46% plus a clearance fee of about 1000 INR,
Their practices and charges are opaque, they won't share details and basis of custom value.

In one case my parcel was about CIF 280 USD. They demanded that I pay duty calculated on assessed value of 580 USD, mind you I didn't under price the item. It was declared at actual value.

I demanded proof or basis of this assessed value, they didn't give any and finally I consulted one of my relatives who was a Superintendent of customs. He told to pay the money and cut my losses, as the parcels are kept in very bad hold storage area and there's too much mishandling.

Also to present my case I had to appear in person in front of Mumbai customs commissioner. So I paid the double duty and got my parcel.

After that I always try to get my items from EMS.

Never had issues in last 10 or so parcels. Always about 42-46 % duty on CIF.

I had similar experience with FedEx. Their transactions and dealings are opaque and there is no grievance. Even after multiple emails and discussions with their staff, there was no choice but to pay what they demanded. At that point I had to pay over 77% customs duty. And when this was calculated over and above the shipping charges, I had to pay 100% of the value of the item. It goes without saying it left me sour.

Since then, I have always requested for USPS/EMS shipping. Fortunately, in a stroke of luck, I have not paid customs for the last two packages which were around $200 and $340.

 

[hardcore_gamer99]

I had similar experience with FedEx. Their transactions annd dealings are opaque and there is no grievance. Even after multiple emails and discussions with their staff, there was no choice. One has to pay what they demand. At one point I had to pay over 77% customs duty. And when this is calculated over and above the shipping charges, I had to pay 100% of the value of the item.

Since then, I have always requested for USPS/EMS shipping. Fortunately, in a stroke of luck, I have not paid customs for the last two packages which were around $200 and $340.

so before ordering you need to tell seller from which courier to ship?

 

[kratu]

so before ordering you need to tell seller from which courier to ship?

Yes, I always contact the sellers and request them to send only via USPS/EMS.

 

[sidvee]

If you decide to import be prepared to feel discombobulated. (https://www.google.com/search?q=discombobulated&ie=UTF-8&oe=UTF-8&hl=en-in&client=safari)
You will feel better once the delivery happens
I imported an amplifier from the UK. The courier person called and asked if I would agree to pay an amount that was a bit more than half the cost of the item. I did not have a choice and never received the promised customs payment bill receipt which was promised.
Once I received the amplifier I set it up and got the music going and started feeling better though the anger and frustration never totally disappeared.

That pretty much sums up the import process. I rather go and get my wisdom tooth pulled out from my dentist, without any pain killer/anesthesia, rather than import any audio equipment, as an individual via any of the so called couriers - DHL / FedEx/ UPS - there is so much corruption and overcharging and opaque methods, it is unbelievable. If WTO did a deep study, they would be embarrassed and may stop our country from world trade altogether.
Cheers,
Sid

 

[Analogous]

That pretty much sums up the import process. I rather go and get my wisdom tooth pulled out from my dentist, without any pain killer/anesthesia, rather than import any audio equipment, as an individual via any of the so called couriers - DHL / FedEx/ UPS - there is so much corruption and overcharging and opaque methods, it is unbelievable. If WTO did a deep study, they would be embarrassed and may stop our country from world trade altogether.
Cheers,
Sid

Oh huh…. you just went and called the spade a spade.
As for WTO doing a study of our processes? (I will restrain myself)
The bottom line is if you decide to import be prepared and budget for the extra expenditure on taxes. If you reconcile yourself to this then you may not feel as bad once it’s over.

 

[sidvee]

Oh huh…. you just went and called the spade a spade.
As for WTO doing a study of our processes? (I will restrain myself)
The bottom line is if you decide to import be prepared and budget for the extra expenditure on taxes. If you reconcile yourself to this then you may not feel as bad once it’s over.

Yes true. I concur.
Cheers,
Sid

 

[hardcore_gamer99]

can i claim ITC on gst portal if igst is charged

 

[frend2001]

No, if you did it as individual, you can't.

If you have IEC then I think you can. Depends on item and your clearing agents paperwork.

 

[hardcore_gamer99]

No, if you did it as individual, you can't.

If you have IEC then I think you can. Depends on item and your clearing agents paperwork.

i have both gst and iec

 

[frend2001]

Run the query thru your clearing agent.

He'd be the best person to clarify on claiming ITC on IGST paid on import.

 

[hardcore_gamer99]

Run the query thru your clearing agent.

He'd be the best person to clarify on claiming ITC on IGST paid on import.

clearing agent? where do i contact them? clearing agent assigned automatically?

 

[frend2001]

Clearing agents are firms who you engage to clear your import / export consignments with proper paperwork.

Since you already have IEC, haven't you engaged any clearing agent for your shipments ?

 

[hardcore_gamer99]

Clearing agents are firms who you engage to clear your import / export consignments with proper paperwork.

Since you already have IEC, haven't you engaged any clearing agent for your shipments ?

no, i am thinking of my very first import

 

[insane79]

no, i am thinking of my very first import

Why are you cracking your head? What is it that you want to import? Not available here?

 

[hardcore_gamer99]

Why are you cracking your head? What is it that you want to import? Not available here?

cooler for av receiver

 

[mahaaprasaad]

no, i am thinking of my very first import

Ok. that would be a learning exercise.

You bought a New car (GST and IEC);
you don't know anything about Driving(Import);
you don't hire Driver (Clearing Agent);
but you want to take a first ride on the busy street (First import).

Then you need to understand or aware so many things before attempting. BTW, is this import is for Business/Resale or for personal use?