Custom Duty
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10 Lakh MT Raw Sugar Exempted from Customs Duty Under TRQ
UK Imports Get Customs Duty Concessions with TRQ and Origin Conditions
CBIC Empowers Board to Extend Two-Year Re-Export Period for Duty-Free Event Imports
CBIC Revises List of Goods Eligible for BCD Exemption for Lithium-Ion Cell Manufacturing
CBIC Grants Nil BCD on Goods for Mobile Phone Inductor Coil Modules Until March 2029
CBIC Grants Nil BCD on Goods Used to Manufacture Display Assemblies
UK-India CETA: Customs Duty & IGST Exemption for Event Animals Subject to Re-Export Conditions
CBIC Extends AIDC Exemption on Ammonium Nitrate Imports Till 15 July 2026
CBIC Extends Nil Customs Duty on 40 Petrochemical Products Till 15 July 2026
Nil Customs Duty on Goods Under Tariff Item 26020010 under India Australia ECTA
Government Notifies Customs Duty Concessions for Imports from Oman
Raw Cotton Imports Exempt from BCD and AIDC Till 31st October 2026
Government Revises Preferential Customs Rates Under India-UAE CEPA
Concessional Customs Duty on Gold, Silver & Platinum Imports raised to 10%
Latest Custom Duty News
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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.
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