IMPORT OF WINE - Tax

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sharath chandra a (Querist)
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01 June 2011 Hi
We are importing WINE from FOREIGN.

We plan to import from port - "CHENNAI OR MUMBAI" to BANGALORE

Can u please give us information regarding the "taxes that we have to pay " on such import with ..... "CURRENT RATES."

Eg: EXCISE DUTY ( Nil) , Customs Duty , VAT …..

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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02 June 2011 dear sir,

as per para (2.8)[iii] of foregin trade policy 2009-2014 if an individual import / export is exempt from IEC CODE.

and for custom duty structure if you could provide me ITC hs code of the sad item i can prompt reply u.

thanks,