IGST and CVD impact on import of goods
Suppose Assessable Value (A.V.) including landing charges =Rs. 100/-
(1) BCD- 10%
(2) IGST-12%
(3) Education cess – 2%
(4) Higher education cess -1%
In view of the above parameters, the calculation of duty would be as below:
(a) BCD = Rs. 10 [10% of A.V.]
(b) Education cess- Rs. 0.2 [2% of (a)]
(c) Higher education cess- Rs. 0.1 [1% of (a)]
(d) IGST- Rs. 13.236 [A.V.+(a) +(b) +(c)]x12%
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