Indian Customs Act

Customs duties are levied on import and export of goods in India. Custom duty mainly comprises Basic Custom Duty (‘BCD’), Social Welfare Surcharge (‘SWS’, levied on BCD), Integrated GST (‘IGST’). However, certain specified goods are also subjected to Compensation Cess and Health Cess.  The Government may also impose Anti-dumping duty (‘ADD’), Safeguard Duty (‘SD’) with a view to protect the domestic industry from serious injuries due to excessive imports. Valuation of the imported goods is also a very important aspect and is even more important in case of transactions with related parties.  Such transactions undergo a rigorous scrutiny and a detailed procedure called Special Valuation Branch (‘SVB’). Several duty exemptions/ concessions are also notified for imported goods to boost the exports from India (e.g. MOOWR, Duty Drawback etc.) and to strengthen economic relationship between the countries (e.g. Preferential/Free Trade/Economic Co-operation Agreements) 

Our team of experts leverages its rich experience to deliver the following range of services to clients:

• Advisory on HSN classification and determination of applicable custom duty rates, concessions/exemptions considering Bi-lateral/ Preferential/Free Trade/Economic Co-operation Agreements.
• Advisory on valuations on imported goods
• Advisory and assistance in obtaining Special Valuation Branch (‘SVB’) closure report and/or order for related party transactions.
• Health check-ups/diagnostic review to ensure custom compliances and highlighting exposure areas, optimization/incentive opportunities.  
• Assistance in obtaining licence under Manufacture and Other Operations in Custom Warehouse Regulations, 2019 (‘MOOWR’)
• Assessment support i.e., replying to show cause notices, preparation and filing of appeals and representation