I am contemplating importing a an electrical/mechanical sports machine. Its weight is about 30 kg. My friend will be bringing it as part of his baggage.
Its cost is 1500 dollars.
Can some one please tell me how much will I have to pay as import taxes and duties in total?
And if possible how can I keep it to the minimum?
Thanks.
AS PER Baggage (Amendment) Rules, 2006:-
An Indian resident or a foreigner residing in India, returning from any country other than Nepal, Bhutan, Myanmar or China, shall be allowed clearance free of duty articles in his bona fide baggage to the extent mentioned in column (2) of Appendix A.
You are request to please readRule -3 TO 8 OF THE BELOW MENTIONED LINK.
Provided that such Indian resident or such foreigner coming by land route as specified in Annexure IV, shall be allowed clearance free of duty articles in his bonafide baggage to the extent mentioned in column (2) of Appendix ‘B’.”
FOR MORE INFO LINK IS :-
https://www.cbec.gov.in/customs/cs-act/formatted-htmls/cs-rulef.htm
informative''' thanks
thankyou
CAclubindia
