New Customs Rates?
- Thread starter sidvee
- Start date
LocutusEstBorg
Member
Standard shipping almost always uses Aramex. Expedited shipping is also usually Aramex, but sometimes FedEX. Priority shipping is usually DHL, but sometimes UPS.
For priority shipping it's better to buy from Amazon.co.jp since shipments reach in 2-3 days and it's much cheaper than Amazon.com's priority shipping.
LocutusEstBorg
Member
Amazon just updated their rates. Everything is 41% now.
now back to scrounging relatives/friends to carry electronics :indifferent14:krishnamurthy
Active Member
It is actually 41.5%. The indian dealer ripoff will be even more. Goodbye to ordering any electronics even from locals or international folks.
Her Master's Voice
New Member
With most GST rates released yesterday, it looks like luxury goods will attract even 28% GST. Is good quality sound a luxury? Probably yes. What do you think.
LocutusEstBorg
Member
Import duty on Amazon.com is now 80% since July 1st.
Any information on what makes them do that?
LocutusEstBorg
Member
I'm hoping it's just a precaution for a few days after GST. If it's excessive they'll refund the difference, but it's not like anyone will buy anything in the first place.
I believe the GST myths and Clouds will be cleared by 15th July.....only then we will get the proper applicable rates etc...i was checking a while back with a couple of known dealers in Mumbai and they told me to hold on for a week......
LocutusEstBorg
Member
I understand the new rate for electronics is the total of:
which is a whopping 80.9465%.
which is a whopping 80.9465%.
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Stupendous Man
Member
Amazon.com is charging more than double the import it used to, sad times for us. We can't make them and now can't even buy them.
krishnamurthy
Active Member
No one will buy at 80% including dealers. They are killing the goose in total. Good luck in reduced customs collection targets. Bunch of morons passing the law with no understanding of how things work. Demand destruction is what is going on.
LocutusEstBorg
Member
Dealers with an import license will only be charged the old BCD rate of 10% for most electronics, not 35% like personal imports. Since the GST is already paid as part of the import, there is no further increase in cost beyond the actual landed cost. They just add their margin and sell it to the consumer. So prices for dealer imported items actually reduce, unless the new GST slab for that product is higher than the old VAT + misc taxes. To dealers it makes no difference whether the product is imported or made in India.
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Her Master's Voice
New Member
Yes, that is correct. The applicable charges are:
Basic Customs Duty 10% plus GST 28% plus Education Cess 2% plus Higher Education Cess 1%, which works out to a total of 41% on the cif Import Bill. CIF is Cost Insurance Freight, which is the Invoice of the shipper plus freight insurance plus freight charges.
GST which the end user has to pay for these items now is also 28%.
Earlier it was 10% Basic Customs Duty plus 12.5% Countervailing Custom Duty plus 4% Additional Custom Duty plus 2% Education Cess plus 1% Higher Education Cess, which worked out to 29.5% on the CIF Import Bill.
The dealer was charging 15% VAT.
So according to this calculation the increase in price from dealers for imported equipment should be 67%-44.5% = 22.5%.
Is that right?
Cheers,
Sid
Can you point out which items you were looking at?
Her Master's Voice
New Member
I think the prices should go up by 24.5%. 11.5% increase on imports and 13% more on sales tax. A piece of equipment that had earlier cost 2 lahs incl. sales tax will now cost 2.49 lakhs. :sad:
Stupendous Man
Member
It'a Pioneer XDP-100R, earlier the import was $147 now it's about $275 even HDDs
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Staggering increase IMO. Will definitely effect the higher end of the audio market which was already suffering from slow sales due to demonetization etc.
Cheers,
Sid
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