Customs duty on Permanent magnets and articles becoming pe manent magnets of metal in Nepal

Q: What is the customs duty on Permanent magnets and articles becoming pe manent magnets of metal in Nepal?

The customs duty on Permanent magnets and articles becoming pe manent magnets of metal (HS 8505.11.00) is 10% (general). From India or another SAARC country under SAFTA, with a certificate of origin, it is 6%. On top of customs duty, 13% VAT applies on the CIF value plus duty.

Q: What is the HS code for Permanent magnets and articles becoming pe manent magnets of metal in Nepal?

The Nepal customs HS code for Permanent magnets and articles becoming pe manent magnets of metal is 8505.11.00 (chapter 85 — Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles).

Permanent magnets and articles becoming pe manent magnets of metal is classified under HS code 8505.11.00 (chapter 85, Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles). It attracts 10% customs duty (general), or 6% from India & SAARC under SAFTA, plus 13% VAT on the CIF value and duty.

10%General duty

6%India & SAARC (SAFTA)

13%VAT

nos/kgCustoms unit

Landed cost — worked example

For a shipment with a CIF value of Rs 100,000 (cost + insurance + freight to the Nepal border), the customs duty and VAT work out as:

Origin	Customs duty	Duty amount	VAT (13%)	Landed cost
General (any origin)	10%	Rs 10,000	Rs 14,300	Rs 124,300
India & SAARC (with SAFTA certificate of origin)	6%	Rs 6,000	Rs 13,780	Rs 119,780

Importing from India or SAARC under SAFTA (with a certificate of origin) cuts the duty from 10% to 6% — about Rs 4,520 less on this Rs 100,000 example, once the VAT on the saved duty is counted. How SAFTA & the certificate of origin work →

Excise duty, the road-development fee and other charges apply to specific goods (vehicles, alcohol, tobacco, petroleum…) and are not in the figure above. Open the full calculator →

Nepal’s imports of Permanent magnets and articles becoming pe manent magnets of metal

Nepal imported about Rs 78.40 Crore of Permanent magnets and articles becoming pe manent magnets of metal in FY 2082/83, mainly from India, China, Italy.

Source country	Import value (FY 2082/83)
India	Rs 1.53 Crore
China	Rs 18.1 Lakh
Italy	Rs 11.6 Lakh
Norway	Rs 9.6 Lakh
United States	Rs 1.1 Lakh

Related products

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Full landed-cost calculator Open 8505.11.00 in the tariff Chapter 85