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GST and Duties Explained
1. What Are Import Duties? Import duties (also called customs duties or tariffs) are taxes charged by a country when goods enter its borders.These charges depend on the type of product , country of origin , and trade policies . Why import duties exist: Protect local industries Generate government revenue Control certain product categories (e.g., chemicals, electronics) Common types of import duties: Basic Customs Duty (BCD) – The primary tax on imported goods Anti-Dumping D
Nancy Kong
Dec 2, 20253 min read
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