Custom Duty

Positive Impact of Export Facilitation Measures on Exports

Latest data suggests signs of recovery of Indias exports. December 2016 is the continuous 4th month when merchandise exports registered positive growth. Despite weak global demand, India’s overall Trade figures also look good, helped by the strong net foreign exchange earnings from the IT-led Services Export Sector....

Read More

Union Budget 2017- Highlights of Custom Duty Proposals

Definition of following terms is proposed to be incorporated in section 2 of the Customs Act, 1962: Beneficial owner, Passenger Name Record Information, Foreign Post Office and International Courier Terminal...

Read More

Union Budget 2017: Key Changes in Custom Duty

Article disusses amendment in Custom duty carried out /; Proposed by union budget 2017 related to Amendments in Customs Act, 1962 / Customs Tariff Act, 1975, Legislative changes regarding Authority for Advance Ruling/ Settlement of Cases, Amendments affecting rates of BCD etc....

Read More

Budget 2017 Chapter wise changes relating to Customs

Basic Customs duty rate on Cashew nut, roasted, salted or roasted and salted [20081910] is being increased from 30% to 45% by increasing the tariff rate from 30% to 45%. Clause 109 (a) of the Finance Bill, 2017 refers. By virtue of declaration under the Provisional Collection of Taxes Act, 1931, this increase will come into force with imm...

Read More

Suggested amendments to improve working of Customs Brokers

Section 146 of The Customs Act, 1962 states that no person shall carry on business as an agent relating to the entry or departure of a conveyance or the import or export of goods at any Customs station unless such person holds a license granted in this behalf in accordance with regulations made in this regard by the Board....

Read More

CBI Arrests central Excise official in Gold Theft case

CBI Arrests a Superintendent of central Excise in an on-going Investigation of a Case Relating to Theft of Gold from Custom's Godown at IGI Airport...

Read More

Cabinet approves Agreement between India and Tajikistan on Cooperation and Mutual Assistance in Customs Matters

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing and ratifying, an Agreement between India and Tajikistan on Cooperation and Mutual Assistance in Customs Matters....

Read More

Then Deputy Commissioner of Customs Jailed and Fined

The investigation revealed that Shri K.S. Chandrasekhar while working as Deputy Commissioner of Customs, Air Cargo Complex, Nedumbassery Airport, Ernakulam entered into a criminal conspiracy with Shri Raju Mathew & Shri George Bastin, Partners of M/s Mars Cargo Agencies, Cochin and favoured M/s Mars Cargo Agencies without any public inter...

Read More

CBI arrests superintendent of customs in separate in bribery case

CBI has arrested Superintendent of Customs, ICD, Patli, District, Gurgaon (Haryana) and a private person while demanding & accepting bribe of Rs. 25,000/-....

Read More

DRI seized 41 kgs gold smuggled into India from Bangladesh

One person possessing 14 kgs smuggled gold valued at Rs. 4.1 Crore has been intercepted and arrested on 02/03 April by DRI at Nager Bazaar near Dumdum Railway Station in Kolkata. ...

Read More

Redemption fine of 10% & penalty of 5% of value of goods is sufficient punishment to importer

Sai International Vs Shri S.S Garg (CESTAT Bangalore) - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Issue of imposition of redemption fine and penalty has been settled and now various Benches of the Tribunal have consistently held that the redemption fine of 10% of the value of the goods and penalty of...

Read More

Assessee not allowed to appear with Counsel to Record Statement U/s. 108 of Customs Act

Pawan Kumar Pawan Arora Vs Union of India (Allahabad High Court) - In view of law laid down by Apex Court in case of Poolpandi & Others v. Superintendent, Central Excise & Others, presence of counsel refusal during interrogation/recording the statement of a person under Customs Act would not be violative of Article 20 (3) and 21 of Constitution of India....

Read More

Custodian of Goods cannot deny his liability for export of Illicit Goods

M/s. Sanco Trans Ltd Vs The Customs, Excise and Service Tax Appellate Tribunal (Madras High Court) - This Civil Miscellaneous Appeal is filed by the assessee challenging an order of the Customs Excise and Service Tax Appellate Tribunal dated 15.6.2015 confirming imposition of penalty under section 114 of the Customs Act (in short Act) though reducing the quantum from Rs.5 lakhs to Rs.2.5 lakhs....

Read More

Conditions for Admitting appeal U/s. 130E(b) of Customs Act: SC

Steel Authority of India Ltd. Vs Designation Authority (Supreme Court of India) - SC held that before admitting an appeal under Section 130E(b) of the Customs Act, the following conditions must be satisfied: (i) The question raised or arising must have a direct and/or proximate nexus to the question of determination of the applicable rate of duty or to the determination of the va...

Read More

Registration of FIR is not necessary before arresting a person U/s. 104 of Customs Act

Kishin S. Loungani Vs. Union Of India (High Court Of Kerala at Ernakulam) - It is apparent that the proceedings conducted by an officer of the Central Excise are vitally different from the investigation by a police officer. It is implicit that a person who is making a statement before a Central Excise Officer can be called upon to sign the statement. On a combined reading o...

Read More

Exemption from drawal of samples to grant drawback to AEO certificate holders

Circular No. 18/2017-Customs - (29/05/2017) - It has been decided to extend the exemption from the requirements of drawal of samples for the purpose of grant of drawback to Authorized Economic Operator (AEO) holding Tier-I certificate, except in case of any specific information or intelligence....

Read More

CBEC notifes Valmikinagar in West Champaran, Bihar as a Land Customs Station

Notification No. 50/2017-Customs (NT) - (24/05/2017) - Amendment to notification 63/94-Customs (N.T), dated 21.11.1994 so as to notify Valmikinagar in West Champaran District, Bihar as a Land Customs Station....

Read More

Notification No. 21/2017-Customs, Dated: 22.05.2017

Notification No. 21/2017-Customs - (22/05/2017) - Whereas the notification no. 09/2012-Cus dated the 9th March, 2012 of the Government of India, Ministry of Finance, Department of Revenue did not allow benefit of duty free import of cut and polished diamonds exported abroad for certification and grading, by authorised offices/ agencies in India of ...

Read More

Customs Rate of foreign currency exchange WEF 19th May, 2017

Notification No. 49/2017-Customs (N.T.) - (18/05/2017) - Indian currency or vice versa, shall, with effect from 19th May, 2017, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods....

Read More

Anti-dumping duty, on imports of Aluminium Foil from China

Notification No. 23/2017-Customs (ADD) - (16/05/2017) - Seeks to levy definitive anti-dumping duty, on imports of Aluminium Foil originating in or exported from China PR vide Notification No. 23/2017-Customs (ADD) dated 16.05.2017 ...

Read More

Browse All Categories

CA, CS, CMA (3,379)
Company Law (3,266)
Custom Duty (6,440)
DGFT (3,357)
Excise Duty (4,002)
Fema / RBI (3,177)
Finance (3,330)
Income Tax (24,543)
SEBI (2,668)
Service Tax (3,269)

Recent Posts in "Custom Duty"

Exemption from drawal of samples to grant drawback to AEO certificate holders

Circular No. 18/2017-Customs (29/05/2017)

It has been decided to extend the exemption from the requirements of drawal of samples for the purpose of grant of drawback to Authorized Economic Operator (AEO) holding Tier-I certificate, except in case of any specific information or intelligence....

Read More

CBI Arrests central Excise official in Gold Theft case

CBI Arrests a Superintendent of central Excise in an on-going Investigation of a Case Relating to Theft of Gold from Custom's Godown at IGI Airport...

Read More
Posted Under: Custom Duty |

CBEC notifes Valmikinagar in West Champaran, Bihar as a Land Customs Station

Notification No. 50/2017-Customs (NT) (24/05/2017)

Amendment to notification 63/94-Customs (N.T), dated 21.11.1994 so as to notify Valmikinagar in West Champaran District, Bihar as a Land Customs Station....

Read More

Notification No. 21/2017-Customs, Dated: 22.05.2017

Notification No. 21/2017-Customs (22/05/2017)

Whereas the notification no. 09/2012-Cus dated the 9th March, 2012 of the Government of India, Ministry of Finance, Department of Revenue did not allow benefit of duty free import of cut and polished diamonds exported abroad for certification and grading, by authorised offices/ agencies in India of laboratories mentioned under para 4.74 o...

Read More

Customs Rate of foreign currency exchange WEF 19th May, 2017

Notification No. 49/2017-Customs (N.T.) (18/05/2017)

Indian currency or vice versa, shall, with effect from 19th May, 2017, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods....

Read More

Anti-dumping duty, on imports of Aluminium Foil from China

Notification No. 23/2017-Customs (ADD) (16/05/2017)

Seeks to levy definitive anti-dumping duty, on imports of Aluminium Foil originating in or exported from China PR vide Notification No. 23/2017-Customs (ADD) dated 16.05.2017 ...

Read More

Increase in anti-dumping duty on imports of Polytetraflouroethylene

Notification No. 22/2017-Customs (ADD) (16/05/2017)

In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby makes the following amendmen...

Read More

Anti-dumping duty on import of Amoxycillin

Notification No. 21/2017-Customs (ADD) (16/05/2017)

Seeks to levy definitive anti-dumping duty on import of Amoxycillin originating in or exported from China PR for a period of five years (unless revoked, superseded or amended earlier) in pursuance of final findings of the Directorate General of Anti-Dumping and Allied Duties....

Read More

Notification No. 20/2017-Customs Dated: 16th May, 2017

Notification No. 20/2017-Customs (16/05/2017)

Seeks to amend notification no. 12/2012-customs dated 17.03.2012 extending the time period for furnishing the final Mega power project certificate from 60 months to 120 months and extending the period of validity of security in the form of Fixed Deposit Receipt or Bank Guarantee from 66 months to 126 months, in case of provisional mega po...

Read More

Expanded schedule of tariff preferences under India-Chile PTA)

Notification No. 19/2017-Customs (16/05/2017)

Seeks to amend Notification No. 101/2007 – Customs dated 11th September 2007 so as to notify the expanded schedule of tariff preferences under the India-Chile Preferential Trade Agreement (PTA)....

Read More
Page 1 of 64412345...102030...Last »

Latest Custom Duty News

Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com

Custom duty is an indirect tax which is applicable on goods which are imported into India and a few goods which are exported out of India. Globally, countries levy custom duties over import and export of goods for raising revenue and also for shielding their domestic companies from competitors from several other countries. Custom duty in India is imposed on almost universally all the goods which are imported into India. Export duties are imposed on few goods as provided under Second Schedule. These duties are not imposed on few items such as lifesaving drugs or equipment, food grains, fertilizers etc. Import duties are divided into basic duty, true countervailing duty, additional customs duty, protective duty, anti-dumping duty and education cess.

Customs duty in India is imposed according to the value of the goods or their weight, dimension and other various criteria as per the goods. Where the duties are based on goods value, then the custom duties are known as ad valorem duties, and where the duty is based on quantity or weight, the duties are known as specific duties.

Customs Act, 1962 empowers the government of India for levying customs duty, prohibiting import and export of goods, framing policies for exporting and importing and penalties, offences etc. All the matters which are related to custom duty comes under the CBEC (Central Board of Excise & Customs). The Central Board of Excise & Customs also formulates policies with respect to custom duty rate, smuggling prevention and administrative decisions that are related to customs formations.

Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.

Featured Posts

Search Posts by Date

May 2017
M T W T F S S
« Apr    
1234567
891011121314
15161718192021
22232425262728
293031