D.Shivakumar (plant engineer) (28 Points)
08 April 2012dear sirs,
i want to import machinery from china to start my drinking mineral water industry
,let me know the procedure for importing laws like excise,duty,transporting, money exchange etc
d.shivakumar
plant engineer
Sunil Kumar G
(AGM Taxation)
(373 Points)
Replied 10 April 2012
Firstly you should give PO to your exporter in China. So that they will ship to referred port In India. Once it reached the port/ Airport, you should submit the documents to the customs for clearing. Now all Customs working under EDI system, you have to submit the bill of Entry thru online. The valuation done by the customs department and you have to pay applicate customs duty ( 7.5%/10%) as Basic Customs duty and CVD at 12% (Plus cess)and Additional duty @ 4%. (plus cess) after paying duty you can clear the machinery fromt the customs.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
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