How to pay difference in custom duty?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2011
Dear Sir/Madam,
I would like to know the procedure for paying difference in custom duty (Under invoice amount).
If original invoice of goods is 100$ and the invoice amount at the time of parts received is 30$. So how to pay the difference in custom duty for (100$-30$=70$). Is there any late fee charges? If yes then how much and what is the criteria for it?
Thanks
I would like to know the procedure for paying difference in custom duty (Under invoice amount).
If original invoice of goods is 100$ and the invoice amount at the time of parts received is 30$. So how to pay the difference in custom duty for (100$-30$=70$). Is there any late fee charges? If yes then how much and what is the criteria for it?
Thanks
RAMESH KUMAR VERMA
(Expert)
28 February 2011
Customs duty is on imports into India and export out of India. Section 12 of Customs Act, often called charging section, provides that duties of customs shall be levied at such rates as may be specified under ‘The Customs Tariff Act, 1975', or any other law for the time being in force, on goods imported into, or exported from, India.
QUERY OF UR REPLY IS :-
IF YOU EXPORT 100 USD AND RECEIVED USD 30 (THEN LOSS THE INCENTIVE)
IF YOU IMPORT 100$ THEN DUTY WILL BE PAID BY YOU ON 100$.
QUERY OF UR REPLY IS :-
IF YOU EXPORT 100 USD AND RECEIVED USD 30 (THEN LOSS THE INCENTIVE)
IF YOU IMPORT 100$ THEN DUTY WILL BE PAID BY YOU ON 100$.
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