Ultimate Guide for Understanding Indian Custom Duties and Taxes
Shipping internationally comes up with many challenges and pre-calculations for successful deliveries but the biggest factors that require proper understanding are custom duties and taxes. To assist you comprehend shipping duties we have created this ultimate guide to clarify methods, and provide best practices for handling these practice so you can prepare your Business to meet Custom regulations . What are Custom duties and taxes? Custom duties and taxes are tariffs imposed on goods imported from other countries into our nation and on goods exported to other countries from India. These tariffs are mainly imposed to control the flow of banned commodities across the international borders. Undoubtedly, It is one of the biggest source of Central Fiscal Revenue and charging taxes legitimately is one of the most important task of Custom authorities. Why Custom duties matter in International Shipping? In India Custom duty is well defined under Act of Customs, 1962 and each and eve...