Import - Export Guideline

 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’r...