NMIMS – Custom Shipping and Insurance
NMIMS MBA Custom Shipping and Insurance Solved Assignment
1. Your company imported one consignment on 1st January 2022. The rate of duty of goods imported is 15%. Your company has kept the goods in the bonded stores for 6 months and went to clear the same in July 2022. At this time the rate of duty has increased to 20%. Your company insists on paying 15% duty which was prevailing at time of import and sought your advice on this. Please give the right advice to your company based on The Customs Act 1962. This scenario is part of the NMIMS MBA Custom Shipping and Insurance Solved Assignment.
2. Your company has imported one aluminium product from China after checking the rate of duty which was 20%. At the time of clearance customs has added anti-dumping duty 75% on your product. Your company got confused and asked your opinion whether this is correct. Kindly guide your company on anti-dumping duty.
3. You have joined a company as an Import Export Manager. The company is new and they seek your advice on the following:
a. What is first check of import clearance?
b. What is second check of import clearance?