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Q. > Please Help: custom duty
what do you mean by custom duty?
1 Answers
answered Jul 24, 2013 by Krishna Chandra Santi , Chennai
Duty levied by custom authority on import and export of goods and services are called custom duty.
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chirag
08-Dec-2012 , 03:07:11 pmin general custom duty means A tax levied on imports (and, sometimes, on exports) by the customs authorities of a country to raise state revenue, and/or to protect domestic industries from more efficient or predatory competitors from abroad. Customs duty is based generally on the value of goods or upon the weight, dimensions, or some other criteria of the item (such as the size of the engine, in case of automobiles).