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...

 One of the most crucial tasks in the business is having proper records and managing the database accurately. Several importers and exporters have a large database containing the files of shipping bills, bill of lading, bill of entry and a number of other documents. ICEGATE is an online portal that helps in managing these records without any hassle. The ICEGATE full form is Indian Customs and Central Excise Electronic Data Interchange or Electronic Commerce Gateway, which has been highly beneficial to a number of importers, exporters, cargo service providers, etc. Every user is provided with a unique ICEGATE ID and their password, which keeps the whole record safe and private. Did You Know? There are more than 7 lakh exporters and importers that are using ICEGATE, which has been beneficial in the smooth running and safeguarding of their business. Currently, there are more than 43542 registered users of this web portal. What is ICEGATE? ICEGATE is termed as Indian Custom and Central...