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Customs Duty Advisory
Customs Duty Advisory offers professional guidance to businesses engaged in international trade, ensuring compliance with customs laws and regulations while minimizing duty costs. This service includes classification of goods, valuation of imports/exports, availing of duty exemptions, and resolving disputes with customs authorities. Effective customs duty advisory supports businesses in optimizing supply chain costs, improving operational efficiency, and avoiding penalties for non-compliance.
Importance
1. Cost Optimization : Reduces customs duty liabilities through correct classification and exemptions.
2. Regulatory Compliance : Ensures adherence to customs regulations, preventing penalties.
3. Dispute Resolution : Helps resolve disputes or notices issued by customs authorities.
4. Trade Facilitation : Simplifies international trade by addressing customs requirements.
5. Supply Chain Efficiency : Supports seamless import/export processes with accurate documentation.
Documents Required
For Indian Nationals
For Foreign Nationals
Features
Features & Benefits of Customs Duty Advisory
Duty Exemption Guidance
Customs Valuation Support
Compliance with Trade Agreements
Document Preparation
Customs Duty Advisory
Customs Notice Resolution
End-to-End Advisory
Reduced Trade Costs
Real-Time Updates
Sector-Specific Solutions
Comparison with GST Advisory Services
| Feature | Customs Duty Advisory | GST Advisory Services |
|---|---|---|
| Focus | International trade compliancec | Domestic GST compliance |
| Scope | Customs laws, tariffs, and disputes | GST rates, ITC, and compliance |
| Regulatory Body | Customs and DGFT authorities | GST departments |
Frequently Asked Questions
What are Customs Duty Advisory?
It is a professional service that helps businesses comply with customs regulations and optimize duty costs.
Who needs Customs Duty Advisory?
Importers, exporters, and businesses engaged in international trade.
What is HSN classification in customs?
HSN codes are used to classify goods for customs and GST purposes, determining applicable tariffs and taxes.
What is the role of a Bill of Entry?
It is a document filed with customs for clearing imported goods, detailing the shipment and duty payable.
Are duty exemptions available for all goods?
No, exemptions depend on product type, trade agreements, and specific notifications.
How are customs disputes resolved?
Disputes can be resolved through representation, appeals, or alternative dispute resolution mechanisms.
Can customs duties be refunded?
Yes, in certain cases such as duty drawback schemes or incorrect payments, refunds may be claimed.
What is a Free Trade Agreement (FTA)?
An FTA is a pact between countries that reduces or eliminates customs duties for specific goods.
What are the penalties for customs non-compliance?
Penalties include fines, seizure of goods, or denial of duty exemptions.
Can foreign businesses avail customs advisory in India?
Yes, foreign entities can seek advisory services to comply with Indian customs regulations.