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Import Duty On Goods

  IGST on import of goods When is IGST applicable? IGST full form is the Integrated Goods and Services Tax. IGST became law in 2017, and is an aggregate tax pulling in several older tax types. This makes calculations simpler, saving traders time, and improving payment accuracy. Under IGST, taxes must be paid on interstate shipments and imports according to the IGST rate for the specific goods being shipped. IGST is paid to the end-point state for any goods - or services - being imported into India. How to pay custom duty in India? You can pay Indian import duty online easily through ICEGATE. Here’s how: Go to the ICEGATE e-payment portal Log in using your ICEGATE credentials, or enter your import/export code Click on the e-payment option Check the payments outstanding in your name - these are shown as e-challans, electronic payment demands Choose which challan you want to pay, and click to select the payment method You’ll be redirected to the bank you select to process payment Once you
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Customs duty: import duty in India

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 If you plan on importing into India, you need to know what customs duty or tariffs you may need to pay. This guide covers all you need - plus some handy insight into how Wise can help, with mid-market rate currency exchange, for a better deal when paying for goods from overseas. What is a custom duty? Customs duty tax is an indirect government tax on consumers. Duties are paid by importers and distributors - who then pass the cost on to consumers. You may also see reference to excise duties. These are added to products like alcohol and tobacco, increasing the cost of harmful goods and discouraging public use. How about customs tariff? Duties are charged on both local and imported goods. Tariffs, however, are only used for imported and exported goods. Tariffs protect the local economy by making imported goods more expensive compared to domestic production. Indian customs duties Customs tariff in India Indian customs duty costs vary according to the goods involved, where they’re coming
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THE IMPORTANCE OF PACKING LIST IN INTERNATIONAL TRADE

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 Many different documents are required for international transportation. The most important documents include the shipper’s export declaration, the bill of lading, the commercial invoice, and the packing list. These documents are used to track the shipment, calculate customs duties, and provide information about the contents of the shipment. A packing list is one of the terms that are used a lot in the business world. Undoubtedly, the correct understanding of these terms can be a good guide for us in commercial affairs. In this article, we are going to talk about an international document called a packing list. Table of Contents Types of International Transportation Documents What is a Packing List? How to Prepare a Packing List Tips for Creating an Effective Packing List Conclusion Types of International Transportation Documents In international trade and transportation, there are documents that specify the features and requirements of the cargo. Shipping documents are the most import
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11 Documents Required for Exporting

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 You’ve heard people talk about how to do the sexy part of exporting—the research, the schmoozing, the travel and all the marketing and sales stuff that people think about when they think about the glamour of international trade. But what I want to talk about is the not-so-sexy part of exporting: the basic export documents required for international shipping. It’s the stuff you need to do—and do correctly—to successfully deliver goods and make money. I’d argue that this not-so-sexy part of exporting is more important than the sexier side but maybe that’s just because it’s what I’ve been focusing on for more than 5 years. With that in mind, here are 11 standard shipping documents for export that you need to understand in order to be successful. Proforma Invoice Commercial Invoice Packing List Certificates of Origin Certificate of Free Sale Shipper's Letter of Instruction  Inland Bill of Lading Ocean Bill of Lading Air Waybill  Dangerous Goods Forms Bank Draft Learn more about the do
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