How is customs duty calculated in india

In India, customs duty is primarily calculated based on the Assessable Value of imported goods, which includes the transaction value (CIF: Cost, Insurance, and Freight). The calculation involves:

• Determining the Assessable Value by adding the cost of goods, insurance, and freight charges.
• Applying the Basic Customs Duty (BCD) as a percentage of the Assessable Value.
• Adding Social Welfare Surcharge (SWS), usually calculated at 10% of the BCD.
• Calculating Integrated GST (IGST) on the sum of the Assessable Value, BCD, and SWS.

Other specific levies like Anti-Dumping or Compensation Cess may also apply depending on the product type.