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Increased Tariffs of Imported Products Again In This Country!

Increased Tariffs of Imported Products Again In This Country! HACOS瀚客企服
2018-03-27
4
导读:Do increased tariffs mainly focus on commodities exported from China?



Series of updated Customs regulations have been implemented lately. Before long, finance minister of India announced that the government would sharply increase tariffs of imported goods from overseas countries, with 10 percent extra Social Welfare Surcharge (SWS) rate.



Specifically, information including IEC, GST and official email ID of importer must be marked down on the B/L and the Shipping Bill, as we mentioned in the previous article.

 Notice! New Requirements of Indian Customs on Exporting!


It seems that the move intends to protect goods "Made in India".



What is Social Welfare Surcharge?


Education Cess, Secondary & Higher Education Cess, have been the extra 3% surcharges on imported cargoes. But later on, there will be Social Welfare Surcharge (SWS), an extra 10% surcharge on imported commodities.


Moreover, gasoline, high performance diesel, silver and gold will enjoy a preferential SWS of only 3%. And imported commodities which are exempted from Education Cess will still enjoy SWS exemption.



Adjusted tariffs

Major Commodities with adjusted tariffs are as followed:

 Tap to enlarge 



Reinforce regulation of anti-dumping


It is reported that the increased tariffs mainly focus on two types of commodities exported from China to India:

  •  Labour-intensive products: watches, toys, shoes, cosmetics, etc.

  •  Electronic products: mobile, television, etc.


Take tariff of mobile as an example, it had been adjusted for three times, ranging from 10% to 15% in the last 12 months. Now, the rate is up to 20%.



To be emphasized, there were 8 cases about anti-dumping towards Chinese exported products to India in the first two months this year.



As we can see, changes have been taken on India Customs policies recently, please pay more attention when you need to export goods to India!



For more shipping and logistics information, welcome to follow HACOSLogistics! Thanks for your support!




HACOS,Business Services Solutions Master

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