Hello,
Recently I got my shop act license, IEC code and current account.
My business idea is to import some unique elctronic goods/ computer parts and sell it online or on ebay.
And I've some questions...
1. For selling imoprted good in India, what all taxes are applicable (apart from custom duty, octroi and VAT)
2. If landed cost of product is Rs 100 and I'm selling the product at Rs 110, how much VAT I will have to pay. (Rs5.5 or Rs 0.5)
3. Is excide duty is appliable for selling imported goods in India.
4. If I want to sell imoprted goods in assebled form (like assebled computer) under brand name of my company, will it be liable for excise duty, if yes what will be the %.
5. Is there any turnover limit for excise duty, I mean, is excise duty is applicable only above certain turnover.
Please respond.
Regards,
Madhav
CAclubindia
