Topic: Customs Duty on importing miner from china to india? (Read 8226 times)

Quote from: santlive on September 26, 2017, 09:34:44 AM

I'm importing miners too but they are from France. (Had to go through a reseller). Any tips?
I have applied for an IEC.
What should the price be put as? For a product actually of 3000$ can I have a value of 1000-1500$(USD) or should it be higher/lesser.
Any advice? Will be happy
Thanks in advance,
Akaash

I saw a news that after GST have been implemented, GSTIN is used instead of IEC for import and export. Is it true?

Are you sure you need IEC? I was hoping to get away with GSTIN

I am not sure...!!! I am an individual and I am a student so I don't have a GSTIN... I was looking for tips here... But nobody seems to have replied... Can you update if you find anythjng new?

I am expecting my miners to arrive last week of this month, or probably by the 2nd week of September. I think PAN card is enough if you are importing small number of miners (personal use). The total value of my import is more than 14000 USD, so I don't think they would buy it if I say it is for personal use, So I am planning to register a SSI unit. I ll post the details of my import and i ll see if i can get some information on import for individuals from my courier representative.

Did you receive your miners? I was really thinking hard on importing miners. why are they not getting custom clearances? I am unaware of this problem. where can I track it?
Does GSTIN still required if I am an individual?

Guvn0r

sr. member

Activity: 647

Merit: 274

Hello everyone ,im from chennai n gonna place order antminer d3 x 2 units from bitmain.com which valus $2900. im bit confused about customs, import fee n other formalities , kindly give some advise r tips for import .

thanks in advance.

Hello,

If I were you, I would probably wait another 2 weeks.. There is a huge problem going on with miners not getting cleared from customs, so until that finds a permanent solution you are wasting money on miner import.

santlive

newbie

Activity: 1

Merit: 0

Hello everyone ,im from chennai n gonna place order antminer d3 x 2 units from bitmain.com which valus $2900. im bit confused about customs, import fee n other formalities , kindly give some advise r tips for import .

thanks in advance.

legendster

hero member

Activity: 1778

Merit: 764

www.V.systems

Quote from: newinbtc on August 19, 2017, 11:01:12 AM

To save customs Duty i have one suggestion for you Ask your seller to ship via following Companies

Hong Kong Air mail
China post Registered Air mail

These both are came to India within 10 day and also ask your seller to send item and mark as Gift and do not add any commercial invoice in it.

I still have both GSTIN number and IEC code try to pay your money via Alibaba Website From the save side

Those aren't companies they are the national post offices of Hongkong & China, yes hongkong has it's own post office among other things.
Speaking from personal experience, if you rely on china post & hongkong air mail then you are asking to be ripped off, because they are infamous when it comes to stealing, product tampering, damaging the product, delaying it in customs and all such other nonsense.

So if you do not want that kind of nightmare, just avoid them for anything valued over $500.

Ship through DHL / FEDEX provide your phone number, whatever your duty is they will collect it from you during the delivery at your doorstep.

Guvn0r

sr. member

Activity: 647

Merit: 274

Quote from: Akaash on August 19, 2017, 04:03:01 AM

Quote from: Guvn0r on August 19, 2017, 12:14:00 AM

I'm importing miners too but they are from France. (Had to go through a reseller). Any tips?
I have applied for an IEC.
What should the price be put as? For a product actually of 3000$ can I have a value of 1000-1500$(USD) or should it be higher/lesser.
Any advice? Will be happy
Thanks in advance,
Akaash

I saw a news that after GST have been implemented, GSTIN is used instead of IEC for import and export. Is it true?

Are you sure you need IEC? I was hoping to get away with GSTIN

I am not sure...!!! I am an individual and I am a student so I don't have a GSTIN... I was looking for tips here... But nobody seems to have replied... Can you update if you find anythjng new?

I am expecting my miners to arrive last week of this month, or probably by the 2nd week of September. I think PAN card is enough if you are importing small number of miners (personal use). The total value of my import is more than 14000 USD, so I don't think they would buy it if I say it is for personal use, So I am planning to register a SSI unit. I ll post the details of my import and i ll see if i can get some information on import for individuals from my courier representative.

newinbtc

legendary

Activity: 1190

Merit: 1001

Quote from: Guvn0r on August 19, 2017, 12:14:00 AM

I'm importing miners too but they are from France. (Had to go through a reseller). Any tips?
I have applied for an IEC.
What should the price be put as? For a product actually of 3000$ can I have a value of 1000-1500$(USD) or should it be higher/lesser.
Any advice? Will be happy
Thanks in advance,
Akaash

IEC code not compulsory IF you are using this for personal use ... Just do not say to DHL that you are using for commercial purpose

Still 1000$ is very High mark item as 500$ and add That this was a Gift

newinbtc

legendary

Activity: 1190

Merit: 1001

To save customs Duty i have one suggestion for you Ask your seller to ship via following Companies

Hong Kong Air mail
China post Registered Air mail

These both are came to India within 10 day and also ask your seller to send item and mark as Gift and do not add any commercial invoice in it.

I still have both GSTIN number and IEC code try to pay your money via Alibaba Website From the save side

Akaash

newbie

Activity: 43

Merit: 0

I'm importing miners too but they are from France. (Had to go through a reseller). Any tips?
I have applied for an IEC.
What should the price be put as? For a product actually of 3000$ can I have a value of 1000-1500$(USD) or should it be higher/lesser.
Any advice? Will be happy
Thanks in advance,
Akaash

I saw a news that after GST have been implemented, GSTIN is used instead of IEC for import and export. Is it true?

Are you sure you need IEC? I was hoping to get away with GSTIN

I am not sure...!!! I am an individual and I am a student so I don't have a GSTIN... I was looking for tips here... But nobody seems to have replied... Can you update if you find anythjng new?

Guvn0r

sr. member

Activity: 647

Merit: 274

Quote from: anujjain on July 26, 2017, 03:56:59 PM

I'm importing miners too but they are from France. (Had to go through a reseller). Any tips?
I have applied for an IEC.
What should the price be put as? For a product actually of 3000$ can I have a value of 1000-1500$(USD) or should it be higher/lesser.
Any advice? Will be happy
Thanks in advance,
Akaash

I saw a news that after GST have been implemented, GSTIN is used instead of IEC for import and export. Is it true?

Are you sure you need IEC? I was hoping to get away with GSTIN

Akaash

newbie

Activity: 43

Merit: 0

I'm importing miners too but they are from France. (Had to go through a reseller). Any tips?
I have applied for an IEC.
What should the price be put as? For a product actually of 3000$ can I have a value of 1000-1500$(USD) or should it be higher/lesser.
Any advice? Will be happy
Thanks in advance,
Akaash

hiflyer

newbie

Activity: 23

Merit: 0

Quote from: Guvn0r on July 26, 2017, 09:01:30 AM

Quote from: anujjain on July 26, 2017, 03:56:59 PM

This was a great thread considering that i am actually planning to buy an antminer from china..

I have purchased L3+ any idea how much custom i will have to pay on it?

I also have purchased some scrypt miners from china, no idea how much custom we will need to pay..there are opinions that says we may have to pay upto 30%, but I am not so sure about it.. If I get any info I ll update

Indian custom duty will be 30% of ( product value + Shipping fee). Importer pay even custom duty for shipping fee too.

Is this the new duty based on GST coz CVD & SAD are gone. on basic custom duty applies . As per the last draft on the Cbec site , Miners should fall in the 10% category.

Guvn0r

sr. member

Activity: 647

Merit: 274

Quote from: Guvn0r on July 26, 2017, 09:01:30 AM

Quote from: Guvn0r on July 26, 2017, 09:01:30 AM

This was a great thread considering that i am actually planning to buy an antminer from china..

I have purchased L3+ any idea how much custom i will have to pay on it?

I also have purchased some scrypt miners from china, no idea how much custom we will need to pay..there are opinions that says we may have to pay upto 30%, but I am not so sure about it.. If I get any info I ll update

Indian custom duty will be 30% of ( product value + Shipping fee). Importer pay even custom duty for shipping fee too.

Thank you for confirming ..

anujjain

sr. member

Activity: 434

Merit: 250

This was a great thread considering that i am actually planning to buy an antminer from china..

I have purchased L3+ any idea how much custom i will have to pay on it?

I also have purchased some scrypt miners from china, no idea how much custom we will need to pay..there are opinions that says we may have to pay upto 30%, but I am not so sure about it.. If I get any info I ll update

Indian custom duty will be 30% of ( product value + Shipping fee). Importer pay even custom duty for shipping fee too.

Guvn0r

sr. member

Activity: 647

Merit: 274