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....

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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...

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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....

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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...

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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....

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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/-....

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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. ...

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CAG detects systemic & internal control deficiencies in Custom

Report No.1 of 2017 – Union Government (Indirect Taxes – Customs) has 101 paragraphs with revenue implication of Rs. 495 crore and two subject specific compliance paragraphs of Rs. 568 crore. In addition systemic and internal control deficiencies involving revenue of Rs. 6430 crore have been included in the report....

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Download Taxation Laws (Amendment) Bill, 2017 As introduced in Lok Sabha

THE TAXATION LAWS (AMENDMENT) BILL, 2017 A BILL further to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Finance Act, 2001 and the Finance Act, 2005 and to repeal certain enactments....

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Proposal to amend Customs Valuation (Determination of Price of Imported Goods) Rules, 2007

The Central Govt. proposes to consider the following amendments to the Customs Valuation (Determination of Price of Imported Goods) Rules, 2007...

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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....

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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....

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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...

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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...

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Simultaneous penalty on firm & partners restricted to abetment

M/s. Amritlakshmi Machine Works Vs The Commissioner of Customs (Import) (Bombay High Court) - Bombay High Court held that Simultaneous penalty can be imposed both on the partners and partnership-firm under Section 112 (a) where the charge on the firm is of acting or omitting to act rendering the goods liable for confiscation and the notice issued to the partner makes out a separate c...

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Notification No 15/2017-Customs, Dated: 20.04.2017

Notification No 15/2017-Customs - (20/04/2017) - Seeks to exempt goods falling under chapter 30 of first schedule of Customs tariff Act 1975, for supply under Patient Assistance Programme run by specified pharmaceutical companies...

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Notification No. 17/2017-Customs, Dated: 21.04.2017

Notification No. 17/2017-Customs - (21/04/2014) - Seeks to exempt goods, falling under the First Schedule to the Customs Tariff Act, 1975, when imported into India by or along with a unit of the Army, the Navy, the Air Force or the Central Paramilitary Forces on the occasion of its return to India after a tour of service abroad, from basic customs ...

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Rate of exchange of conversion of foreign currency wef 21.04.2017

Notification No.40/2017 - Customs (N.T.) - (20/04/2017) - Rate of exchange of conversion of the foreign currency with effect from 21st April, 2017 as notified by Notification No. 40/2017 - Customs (N.T.) dated- 20th April, 2017...

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Custom Duty Exemption on supply under Patient Assistance Programme

Notification No. 16/2017-Customs - (20/04/2017) - Seeks to exempt goods falling under chapter 30 of first schedule of Customs tariff Act 1975, for supply under Patient Assistance Programme run by specified pharmaceutical companies...

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Refrain from direct Meetings with Foreign Missions: CBEC

F.No. 15017/63/2017-Dir(ICD) - (19/04/2017) - All field formations and Directorates are advised to refrain from directly entertaining meetings with representatives of foreign missions to discuss policy/ legal matters without prior approval of CBEC...

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Recent Posts in "Custom Duty"

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....

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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....

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Notification No 15/2017-Customs, Dated: 20.04.2017

Notification No 15/2017-Customs (20/04/2017)

Seeks to exempt goods falling under chapter 30 of first schedule of Customs tariff Act 1975, for supply under Patient Assistance Programme run by specified pharmaceutical companies...

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Notification No. 17/2017-Customs, Dated: 21.04.2017

Notification No. 17/2017-Customs (21/04/2014)

Seeks to exempt goods, falling under the First Schedule to the Customs Tariff Act, 1975, when imported into India by or along with a unit of the Army, the Navy, the Air Force or the Central Paramilitary Forces on the occasion of its return to India after a tour of service abroad, from basic customs duty (BCD), CVD and SAD subject to the s...

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Rate of exchange of conversion of foreign currency wef 21.04.2017

Notification No.40/2017 - Customs (N.T.) (20/04/2017)

Rate of exchange of conversion of the foreign currency with effect from 21st April, 2017 as notified by Notification No. 40/2017 - Customs (N.T.) dated- 20th April, 2017...

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Custom Duty Exemption on supply under Patient Assistance Programme

Notification No. 16/2017-Customs (20/04/2017)

Seeks to exempt goods falling under chapter 30 of first schedule of Customs tariff Act 1975, for supply under Patient Assistance Programme run by specified pharmaceutical companies...

Read More

Refrain from direct Meetings with Foreign Missions: CBEC

F.No. 15017/63/2017-Dir(ICD) (19/04/2017)

All field formations and Directorates are advised to refrain from directly entertaining meetings with representatives of foreign missions to discuss policy/ legal matters without prior approval of CBEC...

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CBEC withdraw Custom Circular issued in 1987 to comply SC decision

Circular No. 15/2017-Customs (19/04/2017)

Attention is invited to Board Circular F. No. 528/213/87-Cus. (T.U.) 1CD dated 08.08.1987. In the said circular, Board had stipulated that once a contract is registered either for initial setting up or for substantial expansion of an existing plant etc, the imports made become classifiable under the heading 9801 of the customs tariff liab...

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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 value of the goods for the purposes of ass...

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Notification No. 14/2017-Customs, Dated: 18.04.2017

Notification No.14/2017-Customs (18/04/2017)

Amendment to Notification No.41/1999-Cus to align the said notification with para 4.36 of FTP 2015-20 by omitting the word 'for export' in the proviso to the notification...

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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.

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