Customs duty is tax imposed on imported and exported goods.
CIF Value × Exchange Rate = Assessable Value
+ Landing Charges (1%)
+ Insurance (0.5%)
= Total Value
Customs duty varies by product and country of origin.
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We have taken utmost care to research and write this article for your information. However, tax laws are complex and subject to frequent changes. This article is for general guidance only and should not be considered professional advice. Individual circumstances vary significantly — what works for one person may not apply to another.
Before making any tax-related decisions, we strongly recommend consulting with a qualified Chartered Accountant or tax professional who can assess your specific situation. We do not accept any liability for decisions made based on this information.
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