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Custom Duty

Amendment by Taxation Laws (Amendment Act)

A new Section 108A and 108B inserted which cast responsibility on Banking Company, Stock Exchange, Financial Institution, Register, Co Operative Bank etc to Furnish information to Proper Officer. Penalty Rs 100 per day will be imposed in case of failure to Furnish Information....

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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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ROSL Scroll generation has been activated

Temporary ROSL Scroll of smaller amounts (10-15 Cr.) to be generated, so that rejections, if any, does not affect major number of SBs / Exporters. One Scroll may be generated for every week starting after last ROSL scroll generation date, latest till May 2017. Drawback Officers to be directed to complete the entire process for a week's fi...

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Govt imposes 10% BCD on mobile phone and specified parts

With effect from 01.07.2017 Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods....

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Draft Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2017

Stakeholder consultation/comments are invited on Draft Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2017 for electronic clearances along with proposed electronic forms, namely,new Form Courier Bill of Entry-XII (CBE-XII), new Form Courier Bill of Entry-XIII (CBE-XIII), new Form Courier Bill of Entry-XIV...

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Draft Bill of Entry (Forms) Amendment Regulations, 2017.

Stakeholder consultation/comments are invited on draft notification for amendment to Bill of Entry(Forms) Regulations, 1976 for Non-EDI locations or for Manual clearance along with New Form I, New Form II & New Form III for manual Bill of Entry incorporating provisions for IGST....

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Draft Shipping Bill and Bill of Export (Forms) Regulations, 2017

Stakeholder consultation/comments are invited on Draft Shipping Bill & Bill of Export regulations for Non-EDI locations or for Manual clearance and proposed Manual Shipping Bills Forms- SB I, SB II, SB III & SB IV....

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Order Continuing Anti-Dumping duty made After Expiry of Duty Period is Invalid: SC

Union of India and Another Vs M/s. Kumho Petrochemicals Company Limited and Another (Supreme Court of India) - Before the High court, the petitioners, M/S. Kumho Petrochemicals Company Limited And Another, made two submissions. Firstly, the order of continuation of anti-dumping duty, made after expiry of the duty period, is bad in law. Secondly, the initiation of the anti-dumping duty investigation was also ...

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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) - 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 5% of the value of the goods is sufficient punishment to the importer. Therefore, following the ...

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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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Rate of exchange of conversion of foreign currency WEF 21.07.2017

Notification No. 72/2017-Customs (N.T.) - (20/07/2017) - CBEC hereby determines that the rate of exchange of conversion of each of the foreign currencies WEF 21.07.2017 vide Notification No. 72/2017-Customs (N.T.)...

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Detailed guidelines for re-testing of samples from import consignments

Circular No. 30/2017-Customs - (18/07/2017) - F. No. 450/15/2017-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Custom) ******** Circular No. 30/2017-Cus New Delhi, dated 18th July, 2017 To All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive), All Principal ...

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Operational problems being faced by EOU in GST regime

Circular No. 29/2017- Customs - (17/07/2017) - EOUs are allowed duty free import of goods under notification No.52/2003-Custom dated 31-3-2003. However, in view of GST the said notification has been consequently amended by notification No. 59/2017-Customs dated 30-6-2017....

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Notification No. 67/2017 – Customs Dated: 14th July, 2017

Notification No. 67/2017-Customs - (14/07/2017) - Notification No. 67/2017-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notificat...

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Notification No. 71/2017-Customs (N.T.), Dated: 14.07.2017

Notification No. 71/2017-Customs (N.T.) - (14/07/2017) - Notification No. 71/2017-Customs (N.T.), Dated: 14.07.2017 In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendm...

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Recent Posts in "Custom Duty"

Order Continuing Anti-Dumping duty made After Expiry of Duty Period is Invalid: SC

Union of India and Another Vs M/s. Kumho Petrochemicals Company Limited and Another (Supreme Court of India)

Before the High court, the petitioners, M/S. Kumho Petrochemicals Company Limited And Another, made two submissions. Firstly, the order of continuation of anti-dumping duty, made after expiry of the duty period, is bad in law. Secondly, the initiation of the anti-dumping duty investigation was also bad in law on the ground that public not...

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Rate of exchange of conversion of foreign currency WEF 21.07.2017

Notification No. 72/2017-Customs (N.T.) (20/07/2017)

CBEC hereby determines that the rate of exchange of conversion of each of the foreign currencies WEF 21.07.2017 vide Notification No. 72/2017-Customs (N.T.)...

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Detailed guidelines for re-testing of samples from import consignments

Circular No. 30/2017-Customs (18/07/2017)

F. No. 450/15/2017-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Custom) ******** Circular No. 30/2017-Cus New Delhi, dated 18th July, 2017 To All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive), All Principal Chief Commissioners/Chief Commissioners ...

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Operational problems being faced by EOU in GST regime

Circular No. 29/2017- Customs (17/07/2017)

EOUs are allowed duty free import of goods under notification No.52/2003-Custom dated 31-3-2003. However, in view of GST the said notification has been consequently amended by notification No. 59/2017-Customs dated 30-6-2017....

Read More

Notification No. 67/2017 – Customs Dated: 14th July, 2017

Notification No. 67/2017-Customs (14/07/2017)

Notification No. 67/2017-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Mi...

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Notification No. 71/2017-Customs (N.T.), Dated: 14.07.2017

Notification No. 71/2017-Customs (N.T.) (14/07/2017)

Notification No. 71/2017-Customs (N.T.), Dated: 14.07.2017 In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Governmen...

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ROSL Scroll generation has been activated

Temporary ROSL Scroll of smaller amounts (10-15 Cr.) to be generated, so that rejections, if any, does not affect major number of SBs / Exporters. One Scroll may be generated for every week starting after last ROSL scroll generation date, latest till May 2017. Drawback Officers to be directed to complete the entire process for a week's fi...

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Posted Under: Custom Duty |

Office Order No. 01/2017: Constitution of Review Committees of Chief Commissioners of Customs- Regd.

Office Order No. 01/2017-Customs (13/07/2017)

In exercise of powers conferred by sub-section (1B) of section 129A of the Customs Act, 1962 (52 of 1962), read with Notification No. 13/2017-Central Excise (NT) dated 09.06.2017 and Notification No. 17/2017-Central Excise (NT) dated 19.06.2017...

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Anti-dumping duty on imports of ‘O-Acid” from China

Notification No. 35/2017-Customs (ADD) (13/07/2017)

NOTIFICATION No. 35/2017-Customs (ADD) Seeks to Impose provisional anti-dumping duty on imports of 'O-Acid" originating in exported from China PR...

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Anti- dumping duty on imports of ‘ Grinding Media Balls’

Notification No. 34/2017-Customs (ADD) (13/07/2017)

Seeks to extend levy of anti- dumping duty on imports of ' Grinding Media Balls' (excluding Forged Grinding media Balls), originating in, or exported from, Thailand and people's Republic of China imposed vide Notification 36/2012- Customs (ADD) ,dated 16th July, for one year i.e. up to and inclusive of the 15th July, 2018....

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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.