I recently bought a laptop off eBay.com and shipped it to Mumbai via USPS Express.
The parcel was sent to Customs Office next to Santacruz Domestic Airport. I went there and had a meeting with the Deputy Commissioner of Customs. A very nice person and impressive personality. He explained to me the current Customs rules on imports via post.
Anything above Rs.2,000/- (item + shipping) is considered high value. Individuals are not permitted to import high value items by post. So when such a parcel arrives, it is detained and show-cause notice is sent to the individual. A flat duty of ~41% is levied on item value + shipping cost + 2% of both. This can be reduced to a minimum of ~14% (depending on category of item) by writing a application seeking a lenient view on duty being levied as the item is for personal use.
However, the worst part is that since an individual has violated Customs Rules by importing a high value item by post, a compulsory penalty has to be paid. This penalty has two components, viz. Customs and Personal. Customs penalty is at the descrition of DC, but has to be minimum of Rs.5,000/-, no matter what the value of the item be. Personal penalty is Rs.2,000/-.
So, no matter what the case be, you end-up paying minimum Rs.7,000/- as penalty + 14% duty!
However, if you have an import lisence, then the penalty and flat 41% duty does not apply.
So as per rules, personal imports are a NO-GO unless under Rs.2,000/-, in which case NO DUTY/PENALTY is levied.