Customs Duties

Customs duties, meaning the indirect taxes that a country’s customs authorities collect on the imports and exports of goods, can influence the purchase prices of goods. The amount of customs duty depends upon several factors, including the worth of the materials, their weight, dimensions and more. 

If this tax is based on the goods’ value, they are known as valorem duties, while taxes based on the goods’ quantity or weight are called specific duties. These days, you do not have to worry about customs duties as the Goods and Services Tax (GST) came into being since 2017.

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