Import, excise and vat

 

Hello Experts,
 
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 imported goods 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 excise duty is appliable for selling imported goods in India.
4. If I want to sell imported goods in assembled form (like assembled 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.
 
Thanks in advance.
 
Regards,
Madhav
Replies (3)
Originally posted by : Madhav VL

 
Hello Experts,
 
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 imported goods in India, what all taxes are applicable (apart from custom duty, octroi and VAT)

it depands TAX applicable by state  Government policy of import and vat department.


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)

after decide ur cost + overhead expenses you will be add the profit in case of import no VAT applicable.


3. Is excise duty is appliable for selling imported goods in India.

   APPLICABLE AS PER EXCISE TARIFF , IN THIS REGARD PLEASE READ EXCISE TRAIFF


4. If I want to sell imported goods in assembled form (like assembled computer) under brand name of my company, will it be liable for excise duty, if yes what will be the %.

VAT APPLICABLE

excise duty will applicable if you import for more info read the FTP 2009-2014


5. Is there any turnover limit for excise duty, I mean, is excise duty is applicable only above certain turnover.
 

NO, FOR MORE INFO
Thanks in advance.
 
Regards,
Madhav


 

Dear Mr Ramesh,

Thank you for your reply.

after decide ur cost + overhead expenses you will be add the profit in case of import no VAT applicable. 

Do you mean that, VAT is not applicable on selling imported goods.

If VAT is applicable on selling imported goods, is it applicable on base price or profit margin.

5. Is there any turnover limit for excise duty, I mean, is excise duty is applicable only above certain turnover.

 

NO,

 
Here I had read that excise is only applicable above certain turnover value
https://business.rediff.com/report/2009/aug/26/perfin-what-is-excise-duty-all-about.htm
 
 
Thanks and Regards,
Madhav
 
 

if we purchase some electronic item online from china.Will it will come to my address with custim duty bill?

how much quantity  we can purchase online without IEC

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