Revised Customs duty now closer to Asean average: CBIC Chairman Agarwal

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Revised Customs duty now closer to Asean average: CBIC Chairman Agarwal - Business Standard

Quick Summary:

Trump made a big issue of this, but these bikes can still be imported at a nil rate from Thailand under the Asean free trade agreement.

If an importer later realises an inaccuracy that results in under- or over-payment of duty, they currently need to approach the department for an amendment before making corrections.

The world evaluates Customs duty structures, while cesses are imposed for specific purposes.