On what basis is the Customs Duty Calculated? The final amount of duty payable is calculated based on the product’s classification (HS Code), value (typically CIF – Cost, Insurance, and Freight), and the country of origin, all of which are factored according to the Customs Tariff Act, 1975 and the Customs Act, 1962. Importers can use online tools… Read More »
Customs Duty Customs Duty is an indirect tax imposed by the government on goods when they are transported across international borders. It is a tool used not just for collecting money, but for shaping a country’s economic landscape. Why is Customs Duty Levied? The government applies these taxes for four main strategic reasons: Protection of… Read More »
India has steadily expanded its global trade partnerships to strengthen economic growth, create jobs, and enhance its global standing. After signing six Free Trade Agreements in the last five years, the latest being with Oman this month, India and New Zealand have just concluded negotiations for a forward-looking FTA, marking a historic milestone in bilateral… Read More »
India Oman Trade Agreement This is Oman’s first FTA in nearly two decades. This agreement is India’s second comprehensive Gulf FTA, after the UAE (2022). India’s has signed six free trade pact in the past five years, following deals with Mauritius, the UAE, Australia, the EFTA bloc and the UK. India – Oman has a… Read More »
What is CONCOR and how can exporters use it? CONCOR is a Government of India company under the Ministry of Railways. It is India’s largest multimodal logistics service provider, mainly handling containerized cargo for imports and exports. To simply put, CONCOR moves export–import containers using rail + road, and provides ICD/CFS facilities for customs clearance.… Read More »