Artificial Jewels Import Duty & Landed Cost: India to South Korea
Full 2026 tariff breakdown, customs duty calculations, and compliance alerts for importing into South Korea.
2026 Tariff & Cost Breakdown for Importing Artificial Jewels
The total cost of importing Artificial Jewels from India to South Korea includes a 0% duty and a 10% VAT, calculated on the CIF (Cost, Insurance, and Freight) value in USD. This means that if the CIF value is $100, the VAT would be $10, resulting in a total cost of $110.
Cost Breakdown
| Component | Rate | Amount |
|---|---|---|
| Product Value | — | EUR 884.26 |
| Shipping | — | EUR 0.00 |
| Insurance | — | EUR 0.00 |
| CIF Value | — | EUR 884.26 |
| Customs Duty | 0% | EUR 0.00 |
| VAT/GST | 10% | EUR 88.43 |
| Total Landed Cost | — | EUR 972.69 |
HS Code Classification for Artificial Jewels
Primary HS Code: 7116.200000 — What It Covers
The primary HS code for Artificial Jewels is 7116.200000, which covers imitation jewelry and related accessories. Korea Customs Service requires accurate classification to avoid misclassification penalties.
Why Misclassification Carries Risk in South Korea
Misclassifying Artificial Jewels under the wrong HS code can result in a penalty of up to 10% of the duties, taxes, and other charges, as per Korea Customs Service regulations.
Step-by-Step Guide: Importing Artificial Jewels from India to South Korea
Step 1: Verify Your HS Code & Product Description
Verify the HS code and product description to ensure accuracy and compliance with Korea Customs Service regulations. This includes confirming the product's origin, description, and classification.
Step 2: Gather Required Import Documents
Gather all required import documents, including a commercial invoice, certificate of origin, and packing list. These documents must be accurate and complete to avoid delays or penalties.
Commercial Invoice Requirements
The commercial invoice must include the CIF value, product description, and HS code, as required by Korea Customs Service.
Certificate of Origin
A certificate of origin is required to confirm the product's origin and eligibility for preferential treatment under the India-Korea CEPA.
Packing List & Shipping Documents
A packing list and shipping documents, such as a bill of lading or air waybill, are also required for customs clearance.
Step 3: Calculate Your Landed Cost
Calculate the landed cost using the formula: CIF + Duty (0%) + VAT (10%) = Total. For example, if the CIF value is $100, the duty is $0, and the VAT is $10, the total landed cost would be $110.
Step 4: Submit to South Korea Customs Authority
Submit the import documents and declaration to the Korea Customs Service for customs clearance.
Step 5: Pay Duties & Clear Goods
Pay the applicable duties and taxes, and clear the goods for delivery to the importer.
How to Legally Reduce Duty on Artificial Jewels Imports into South Korea
Applicable Free Trade Agreements in 2026
The India-Korea CEPA provides for reduced or eliminated tariffs on certain products, including Artificial Jewels, under specific conditions. Ministry of Trade, Industry and Energy regulates the implementation of this agreement.
Duty Deferral Options: Bonded Warehouses & FTZs
Consider using a bonded warehouse or Free Trade Zone (FTZ) program to defer duty payment on Artificial Jewels imports. This can help reduce costs and improve cash flow.
Preferential Tariff Programs
Explore preferential tariff programs, such as the Generalized System of Preferences (GSP), to reduce or eliminate duties on Artificial Jewels imports.
South Korea Customs Compliance Rules for Artificial Jewels
Korea Customs Service Requirements for Artificial Jewels
Korea Customs Service requires importers to comply with all applicable regulations, including the Act on the Promotion of the Film and Video Industry, if the Artificial Jewels are used in film or video production.
De Minimis Threshold
The de minimis threshold for imports into South Korea is $200, below which no duties or taxes are payable.
Frequently Asked Questions About Artificial Jewels Import Duty from India to South Korea
What is the HS code for Artificial Jewels?
The primary HS code for Artificial Jewels is 7116.200000. Korea Customs Service requires accurate classification to avoid misclassification penalties.
What is the duty rate for Artificial Jewels imports from India to South Korea?
The duty rate for Artificial Jewels imports from India to South Korea is 0%. However, a 10% VAT is applicable.
Are there any special product certifications required for Artificial Jewels imports?
No special product certifications are required beyond standard customs documentation. However, importers must comply with South Korea's Act on the Promotion of the Film and Video Industry, if the Artificial Jewels are used in film or video production.
Can I use a bonded warehouse or FTZ to defer duty payment on Artificial Jewels imports?
Yes, you can use a bonded warehouse or Free Trade Zone (FTZ) program to defer duty payment on Artificial Jewels imports. This can help reduce costs and improve cash flow.
What is the de minimis threshold for imports into South Korea?
The de minimis threshold for imports into South Korea is $200, below which no duties or taxes are payable.
Are there any penalties for misclassifying Artificial Jewels under the wrong HS code?
Yes, misclassifying Artificial Jewels under the wrong HS code can result in a penalty of up to 10% of the duties, taxes, and other charges, as per Korea Customs Service regulations.