Custom Duty - Page 4

CAG detects systemic & internal control deficiencies in Custom

Report No.1 of 2017 – Union Government (Indirect Taxes – Customs)

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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Posted Under: Custom Duty |

Notification No. 11/2017-Customs (ADD) dated 3rd April, 2017

Notification No. 11/2017-Customs (ADD) (03/04/2017)

G.S.R. (E).- 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...

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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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Posted Under: Custom Duty |

Changes in Customs Act, 1962 – Proposed in Finance Bill, 2017

Circular No. 12/2017- Customs (31/03/2017)

Kind reference is invited to proposals in the Finance Bill, 2017 relating to amendments in sections 46 and 47 of the Customs Act, 1962.These changes would come into effect upon enactment of the said Finance Bill....

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Customs SOP for Refund, Demand, Adjudication, Review & Appeal for SEZ Units

Circular No. 11/2017-Customs (31/03/2017)

Clarification regarding amendments made in the Special Economic Zone Rules, 2006 by way of inserting a new Rule 47 (5) brought vide Department of Commerce (DoC) Notification No. GSR 772(E) dated 05.08.2016 wherein functional operations like Refund, Demand, Adjudication, Review and Appeal are to be made by jurisdictional Customs and Centra...

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Notification No. 23/2017-Customs (N.T.), Dated: 31.03.2017

Notification No. 23/2017-Customs (N.T.) (31/03/2017)

Tariff Notification No. 23/2017-Customs (N.T.), Dated: 31.03.2017 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver....

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CBEC notifies foreign post offices for clearance of import / export goods

Notification No. 31/2017-Customs (N.T.) (31/03/2017)

CBEC hereby appoints the post offices mentioned in column (3) of the Table below, situated in the State or, as the case may be, the Union territory, specified in the corresponding entry in column (2) of the said Table, to be foreign post offices for the purposes of clearance of imported goods or export goods....

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Notification No. 30/2017-Customs (N.T.), Dated: 31.03.2017

Notification No. 30/2017-Customs (N.T.) (31/03/2017)

In exercise of the powers conferred by clauses (b) and (c) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue)...

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Customs (Advance Rulings) Amendment Rules, 2017

Notification No. 29/2017-Customs (NT), (31/03/2017)

These rules may be called the Customs (Advance Rulings) Amendment Rules, 2017. Authority means the Authority for Advance Rulings constituted under section 245-O of the Income-tax Act, 1961 (43 of 1961)....

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Deferred Payment of Import Duty (Amendment) Rules, 2017

Notification No. 28/2017-Customs (N.T.) (31/03/2017)

1. (1) These rules may be called the Deferred Payment of Import Duty (Amendment) Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette....

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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

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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