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Import benefits on import of machinery

This query is : Resolved

Vivekranjan (Querist)
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12 February 2014 One my friend having jwellery business want to import Machinery worth Rs.15 Lakhs from Germany, he has SSI registration. Is there any benefit/ subsidy available from Governmnet, State Govt. (Maharashtra), or at District Industries Centre (DIC) Level?
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Thanks in Advance...!

CS M Pota

CS M Pota (Expert)
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12 February 2014 Dear Vivekranjan

There no any benefit or subsidy in the customs duty.Normal rate of duty will be as under,

Basic Customs duty 7.5%

Countervailing duty CVD 12%

Education cess 2%

Secondary and Higher Edu. Cess 1%

Special additional duty 4%

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