Top 10 Mistakes First-Time Freelancers Make with Cross-Border Transactions

  For firms conducting manufacturing business or that are in international trade, it is necessary to understand the difference between excise duty and customs Duty for compliance and cost control. EximPe embraces the belief that understanding such concepts of tax provides clarity in the decision-making and design of a business for any business. Excise Duty vs Custom Duty: The Basics Excise Duty is a tax levied on goods produced within a country. It is collected at the production or manufacturing level and is usually targeted to particular commodities like alcohol, tobacco, fuel, and luxuries. The individual responsible for clearing excise duty is the manufacturer or the producer, but the cost is usually shifted to consumers in the form of increased costs. Customs Duty is an amount that is paid on goods when they are brought into a country from overseas. It is obtained at the point of entry (like ports and airports) by the customs. Customs duty is basically used to control interna...

The distinction between customs duty and GST is important for all the businesses involved in international trade; this distinction helps in compliance and cost management. Eximpe understands that dealing with these taxes may be confusing, but here is a clear comparison that should give you informed decision-making. Custom Duty Meaning Custom duty refers to a tax that is charged on goods whenever such goods cross international boundaries while being imported or exported. In India, the customs duty is provided by the Customs Act of 1962 and is managed by the Central Board of Indirect Taxes and Customs (CBIC). Its primary objectives are: Generating revenue for the government Protecting domestic industries from foreign competition Regulating and monitoring the movement of goods Preventing illegal trade and smuggling Rates of custom duty will be based on the classification of the product, its origin and its composition. The most popular are Basic Customs Duty(BCD), Social Welfare Surcharge...

For individuals and businesses involved in global trade, knowing “what is custom duty” is essential. With the growth of worldwide trading, paying customs duty played a crucial role in the import and export business. Here is a detailed overview of what customs duty is, the types of customs duty and the customs duty process in India in 2025. What is Custom Duty? A customs duty refers to a type of tax levied on the products taken through the border between diverse nations. Customs duty also constitutes two really important uses: revenue generation and control of importation and exportation of goods. The definition of custom duty is important for companies, like those exploiting Eximpe services, to comply with and control costs. Types of Custom Duty India imposes different customs duties, which are intended to carry out one or the other economic or regulatory functions. These are the main types of custom duties that you are supposed to know: Basic Customs Duty (BCD): This is the standard d...