Be aware of custom duty taxes in India. Here know complete process of custom duty payment through IceGate portal and through HDFC bank and get authorized banks list linked to pay custom duty taxes…
Custom Duty is a form of indirect Tax which is applicable on Goods which are imported and exported from India. Any charges applied on the import of goods from another country to India are termed as Import Duty and any charges applied on export of goods from India are termed as Export Duty. The Custom Duty is a combination of these import and export duty which is levied on Goods.
This process is common in all counties and as well termed as mandatory on every item. Duty payment charges are based on goods and their dimension along with their official brand price. Thus anyone who intended in the form of import or export of Goods, they should firmly pay the Custom Duty in prior.
Under the Customs Act 1962, the Indian government authorized to Levy duty on exports and imports along with other regulations. Custom Duty payment is all controlled by the Central Board of Excise & Customs which is a part of the Dept of Revenue of the Ministry of finance. Thus individuals must reach the CBEC department for their Custom Duty Payment offline or online along with their other concerns.
Custom Duty Payment
The payment of your Custom Duty Challans can be cleared through HDFC bank official website. If you’re a customer of HDFC bank, then here is the detailed process for Custom Duty Payment.
- Open official website of HDFC bank and search Custom Duty
Visit the official website of HDFC bank or click hdfcbank.com/personal/pay/taxes/custom-duty-payment
- Click on Intiate Transfer
Tap on Initiate Transfer and wait for new page to load
- Provide your document type and IEC code
In Custom Duty Online Payment, enter your document type and IEC code
- Tap on check box and click ob submit
Scroll down and click on check box before clicking on Submit Button
- Pay Custom Duty Challans
You will be now taken payment page to pay the Custom Duty Challans
That’s it, The Custom Duty Payment through HDFC bank processed and it is also easy. As you don’t need to visit a new site and create different accounts for your payments.
Custom Duty Payment Online
The ministry of Finance India has developed an official website to make the Custom Duty Payments in quick steps. The ICEGATE e-Payment portal does allow individuals to pay their all Custom Duty charges in one full payment through its well-designed software.
- Visit the official e-payment portal of ICEGATE using epayment.icegate.gov.in/epayment/locationAction.action
- Enter your Import or export code in the very first column
- Else use your login credentials provided by ICEGATE website
- Click on e-Payment and wait for unpaid challans to display
- Select all your Challan’s to pay
- Click on pay button
- Choose your Bank or Payment method to process payment
- That’s it, Once the payment has confirmed from your selected payment mode. The confirmation message will shown on screen and you will get a copy of paid challans.
Custom Duty Payment Authorized Banks
Any individual who does have an account in any of the below banks. Then they can make their Custom Duty Payments directly without using the ICEGATE website. The process and option might differ, but the payments process will directly linked with your account.
Punjab National Bank, Indian Bank, Canara Bank, Union Bank of India, Bank of Baroda, Indian Overseas Bank, UCO bank, Bank of Maharashtra, Bank of India, Central Bank of India, State bank of India, IDBI bank and HDFC bank.
- Why is it necessary to pay Custom Duty Challans?
As per the regulation of Indian boundaries, any goods that are imported or exported to India must have their Custom Duty paid as per their guidelines. In failure of paying the Custom Duty on time, the goods will not be allowed for import or export and they will be moved to Customs office and will be cleared only after paying the Challans.
- Does Custom Duty change if not paid on time?
Custom Duty charges will be applied on the Goods at the initial stage of movement and later if payment is delayed, the Goods will be added with excess interest charges as applicable by the customs officer.
- Does Custom Duty need to be paid for both countries for Goods Movement?
As per the Custom Duty regulations, the export Custom Duty will be charged for moving to a new country and the import Custom Duty will be charged by the other country. thus Goods need to be imported and exported Custom Duty individually paid differently at both countries to ensure free movement of Goods.