ASIC Miner Import Duty post GST

[tcsmate]

Has anyone imported any ASIC Miner from China lately after 1 July. What is the custom duty charges? I will be importing L3+ miner sept 21-30 batch.

[iamrohitkgupta]

I don't think there should be any custom duty for ASICs(max 7.5%) here's why: https://flic[dot]kr/p/XwT4G3
From the PDF of chapter 85 from 8542 31 00:
Electronic integrated circuits:
8542 31 00 -- Processors and controllers, whether u Free -
or not combined with memories,
converters, logic circuits, amplifiers,
clock and timing circuits, or other circuits
8542 32 00 -- Memories u Free -
8542 33 00 -- Amplifiers u Free -
8542 39 00 -- Other u 7.5% -
8542 90 00 - Parts kg. Free
Link: http://www.cbec.gov.in/htdocs-cbec/customs/cst1617-300616/cst1617-3006-idx

[tcsmate]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL. 

[iamrohitkgupta]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

[bitcoinfuck]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

[iamrohitkgupta]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

My dad's tax advisor is helping me with that.

[bitcoinfuck]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

My dad's tax advisor is helping me with that.

let me know how you doing that, but yes there is 0% import on miners.  before GST i paid like 28% 

[tcsmate]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

IEC is for firms/companies and not for individuals.
Are you importing miners on firm's name?

[iamrohitkgupta]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

IEC is for firms/companies and not for individuals.
Are you importing miners on firm's name?

Basically you can apply for IEC as a sole proprietor under proprietorship where you're the director(boss) and stuff like that.

[Guvn0r]

Nice info here, thanks to op for sharing the link...

[iamrohitkgupta]

[Update] I've obtained an IEC. It's same as PAN. They've changed the allocation method of IEC to pan number for uniformity across various departments, post GST implementation. It'd be great if anyone can confirm about the requirement of GSTIN. I checked icegate data under HS Code: 8471 50 00 and could learn from it, the aggregate duty rate, which should to be around 18% (slightly less but NOT more).

[parshuram]

Well... Did you order?

What happened... How much duty and igst

I think whatever laws referred above will not be regarded in the miners case by custom officers. They'll charge us the same as they do for all electronics.

[iamrohitkgupta]

Well... Did you order?

What happened... How much duty and igst

I think whatever laws referred above will not be regarded in the miners case by custom officers. They'll charge us the same as they do for all electronics.

If they charge us according to cellphones then it should be less at about 10%. My orders are yet to be shipped. I've ordered Oct 10-20 batch of S9s. I've emailed them regarding the IEC and other instructions for DHL waiting for them to respond.

[iamrohitkgupta]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

My dad's tax advisor is helping me with that.

let me know how you doing that, but yes there is 0% import on miners.  before GST i paid like 28% 

Did you have an IEC or you used dummy IEC?

[manav24]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

My dad's tax advisor is helping me with that.

let me know how you doing that, but yes there is 0% import on miners.  before GST i paid like 28% 

Did you have an IEC or you used dummy IEC?

IEC is not needed for personal Import, be ready to shell out 35 to 40% duty as that is how much they are charging in delhi tthese days no matter what HSN code u mentioned, it  looks like they charge as per their whim and not according to table.

[Guvn0r]

People seems to have trouble getting their miners cleared from customs... anybody got any info about this?

Edit:
See this thread:
https://bitcointalk.org/index.php?topic=2163645.0


Also, there was some other thread with dudes having their L3+ not getting cleared...

[dwink]

People seems to have trouble getting their miners cleared from customs... anybody got any info about this?

See this thread:
https://bitcointalk.org/index.php?topic=2065708.0

Also, there was some other thread with dudes having their L3+ not getting cleared...

LOL... that's this current thread dude 

[Guvn0r]

People seems to have trouble getting their miners cleared from customs... anybody got any info about this?

See this thread:
https://bitcointalk.org/index.php?topic=2065708.0

Also, there was some other thread with dudes having their L3+ not getting cleared...

LOL... that's this current thread dude 

not having enough sleep does that sometimes, wat to do man...

here is the link

https://bitcointalk.org/index.php?topic=2163645.0

[iamrohitkgupta]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

My dad's tax advisor is helping me with that.

let me know how you doing that, but yes there is 0% import on miners.  before GST i paid like 28%  

Did you have an IEC or you used dummy IEC?

IEC is not needed for personal Import, be ready to shell out 35 to 40% duty as that is how much they are charging in delhi tthese days no matter what HSN code u mentioned, it  looks like they charge as per their whim and not according to table.

Read the thread mentioned by Guvn0r.
It's ridiculous! There is no BCD. So, total duty should either be 18% or 28% I don't understand what they charge 35-40% for! Icegate should be scrapped in such a case.
They have a website stating one thing and their officers charge something else.
Just checked,
Antidump, Safeguard and Tarrif (CVD) Duties are not applicable on miners. So I don't really understand why they charge so much!

[manav24]

Thanks. Was going through the site and came across chapter 84 section 71 that also looked relevant and suggests the duty should be 0.

I know someone who imported L3+  in july end had to pay approx 60+ K to DHL that included 40+ custom duty , 10K penalty and 5K fine (the penalty and fine were for slight mismatch of total value of miner that bitmain quoted on the box to the value in invoice and for using dummy IEC as he was importing as an individual - Delhi customs) and 5k handling fee to DHL.  

Yes chapter 84 is the one. I skipped it because it read nuclear reactors lol. Anyway. Even if the duty is 0 you'll have to pay 18% IGST. I'm currently trying to get an IEC just in case.

how you get IEC ?

My dad's tax advisor is helping me with that.

let me know how you doing that, but yes there is 0% import on miners.  before GST i paid like 28%  

Did you have an IEC or you used dummy IEC?

IEC is not needed for personal Import, be ready to shell out 35 to 40% duty as that is how much they are charging in delhi tthese days no matter what HSN code u mentioned, it  looks like they charge as per their whim and not according to table.

Read the thread mentioned by Guvn0r.
It's ridiculous! There is no BCD. So, total duty should either be 18% or 28% I don't understand what they charge 35-40% for! Icegate should be scrapped in such a case.
They have a website stating one thing and their officers charge something else.
Just checked,
Antidump, Safeguard and Tarrif (CVD) Duties are not applicable on miners. So I don't really understand why they charge so much!

is getting even worse as now customs are not clearing miners easily,
https://bitcointalk.org/index.php?topic=1864920.msg21663490#msg21663490

bad days, better to pay more duty than seizure by customs.

I hope some one will hire a lawyer and sue their ass.