If I am buying items from abroad then will I pay tax if they are of Rs 2000 or Rs1000?
In this blog posts I find its written that now tax is placed on items when they are Rs 2000 instead Rs1000.
1 Reply
The answer is written in the blog post itself. I quote carrotmadman6 reply :
Customs duty and VAT exemption will apply on the first Rs 2,000 of the import value of the goods, instead of Rs 1,000. Such exemption does not apply to imports for sale, alcohol, tobacco products and illicit goods. This change will take effect immediately.
Recourse to a Custom Broker will no longer be required to obtain delivery of personal goods arriving by post or courier services, if their value is below Rs30,000. The current limit is Rs10,000.
This means when the 2013 budget was announced, it was said during the speech that the above changes would come into effect immediately.