Calculation of Import Duty in India — Formula, Online ...
Oct 29, 2019· The Customs Act of 1962 governs import (and export) tariffs and sets the rules for customs valuation. India''s tariff system is based on the Harmonised System of Nomenclature (HSN) of the Customs Cooperation Council. The sample calculation for identifying import duties on equipment, raw material and other inputs is displayed in Figure I.