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import tax (customs duty)

sreedesh (Executive Accountant) (46 Points)

04 November 2009

Dear All,

Please tell me the rules and regulation of Import tax and if you can please specify a/c entry also

(in my company have some import purchase from china)

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1 Replies

P.Bashista (Advocate) (367 Points)
Replied 06 November 2009

Dear Sreedesh

Refer to the customs manual for the exact procedure for the import tax, as for what all duties such as CVD, Addl. Duty, Edu. Cess, etc. are applicable. And apart from that refer to the tarriff as it will let you know the exact duty applicable on the product which your company is importing.

Also check the notifications, as there are lot of products which are restricted for importing from China.