Download [VOC] Duty calculation Korea to India and Sales tax in India HS code

[VOC] Duty calculation Korea to India and Sales tax in India
HS code- 8537101000 is not available. Hence we are considering the HS code 85371000
Product description: Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more
apparatus of heading 85.35 or 85.36, for electric control or the distribution of electricity, including those
incorporating instruments or apparatus of Chapter 90, and numerical control apparatus, other than switching
apparatus of heading 85.17: For a voltage not exceeding 1,000 V
Post-CEPA
Content
Duty %
Formula
Final Duty
Basic duty of Customs
5
(AV X BD rate) / 100
5.00
Countervailing duties
12.5
(AV + BD. Amt.) x CVD rate / 100
13.13
Central excise education Cess
0
(CVD Amt.) X Central Excise Edu. Cess Rate / 100
0.00
Custom education Cess
3
Additional Custom Duty
4
Total custom duty
(on assess value)
(BD Amt. + CVD Amt. + Edu. Cess. Amt.) X Custom Edu. Cess Rate /
100
(AV + BD Amt. + CVD Amt. + Edu. Cess. Amt. + Custom Edu. Cess
Amt.) x Spl. CVD Rate / 100
BCD+CVD+CCESS+ECESS+ACD
0.54
4.75
23.42
Basic custom duty rate as on 2017/01/10
<Source: http://www.indiantradeportal.in/>
HS code- 85369010
Product description: Electrical apparatus for switching or protecting electrical circuits, or for making
connections to or in electrical circuits (for example, switches, relays, fuses, surge suppressors, plugs, sockets,
lamp-holders and other connectors, junction boxes), for a voltage not exceeding 1,000 volts; connectors for
optical fibres, optical fibre bundles or cables: Other apparatus: Motor starters for AC motors
Post-CEPA
Content
Duty %
Formula
Final Duty
Basic duty of Customs
7.5
(AV X BD rate) / 100
7.50
Countervailing duties
12.5
(AV + BD. Amt.) x CVD rate / 100
13.44
Central excise education Cess
0
(CVD Amt.) X Central Excise Edu. Cess Rate / 100
0.00
Custom education Cess
3
Additional Custom Duty
4
Total custom duty
(on assess value)
(BD Amt. + CVD Amt. + Edu. Cess. Amt.) X Custom Edu. Cess Rate /
100
(AV + BD Amt. + CVD Amt. + Edu. Cess. Amt. + Custom Edu. Cess
Amt.) x Spl. CVD Rate / 100
BCD+CVD+CCESS+ECESS+ACD
0.63
4.86
26.43
Basic custom duty rate as on 2017/01/10
<Source: http://www.indiantradeportal.in/>
HS code- 8541409020 is not available. Hence we are considering the HS code 85414090
Product description: Diodes, transistors and similar semiconductor devices; photosensitive semiconductor
devices, including photovoltaic cells whether or not assembled in modules or made up into panels; lightemitting diodes (LED); mounted piezo-electric crystals: Photosensitive semiconductor devices, including
photovoltaic cells whether or not assembled in modules or made up into panels; light-emitting diodes (LED):
Other
Post-CEPA
There are no benefits under CEPA agreement between Korea and India. This category has already zero
(0%) basic custom duty rate.
Content
Duty %
Formula
Final Duty
Basic duty of Customs
0
(AV X BD rate) / 100
0.00
Countervailing duties
12.5
(AV + BD. Amt.) x CVD rate / 100
12.50
Central excise education Cess
0
(CVD Amt.) X Central Excise Edu. Cess Rate / 100
0.00
Custom education Cess
0
Additional Custom Duty
4
Total custom duty
(on assess value)
(BD Amt. + CVD Amt. + Edu. Cess. Amt.) X Custom Edu. Cess Rate /
100
(AV + BD Amt. + CVD Amt. + Edu. Cess. Amt. + Custom Edu. Cess
Amt.) x Spl. CVD Rate / 100
BCD+CVD+CCESS+ECESS+ACD
Basic custom duty rate as on 2017/01/10
<Source: http://www.indiantradeportal.in/>
0.00
4.50
17.00
Sales tax in India
 Sale of goods is subject to salestax. After the introduction of VAT (value added tax) system with effect
from 1st April 2005, it is called VAT on sale of goods
 There are 29 States & 7 Union Territories (U.T.) in India & each state And U.T. has its own VAT law,
e.g. Maharashtra has MVAT Act
Hence we are providing the details only in Maharashtra VAT
 The rates of VAT are specified in schedules to the MVAT Act
o Schedule A lays down list of goods exempt from VAT
o Schedule B to Schedule D give list of goods & rate of VAT thereon
o Schedule ‘E’ is residuary entry (i.e. goods not covered in schedule A to D). Residuary goods
are covered by Schedule ‘E’ Subject to 12.50% VAT
As per schedule
Compact Fluorescent Lamps, LED bulbs and LED tube lights: - 6%
Solar energy devices as may be notified, from time to time, by State Government in the Official Gazette
and spare parts:- No salestax