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Forum Home > General Discussions > import duty on foreign commemorative coin india

suncity
Limited Member
Posts: 14

i want to know 

what import duty on foreign commemorative coin india if i am buy from foreign country & what value of coin exampet for duty



July 31, 2013 at 8:04 AM Flag Quote & Reply

Navonil Mukherjee
Member
Posts: 99

According to article 71 the import duty is 10% on value for coins which are not legal tender( i.e. old coins which are no longer in use). There are many cess[ Landing charges (1% CIF) • CESS (3% Countervailing duty) • Education CESS (3% (Duty + Landing charges + Countervailing duty)) • Additional customs duty (4% (Duty + Landing charges + Countervailing duty))] which make the total amount of duty paid roughly around 14%....

If you import them via postal service then you have to pay the duty only if customs open and check you packet. I didn't find any exemption but fill free to read the whole article  http://www.cbec.gov.in/customs/cst2012-13/chap-71.pdf


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August 1, 2013 at 1:43 AM Flag Quote & Reply

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