Custom Duty - Page 636

QBAL- Licences issued under para 62/62A of EXIM Policy will be same as under para 50 of the Policy

Circular No.109/95-Custom Duty (13/10/1995)

The Commissioner of Customs, Bombay had made a reference to the Ministry regarding the difficulty faced by the Bombay Customs House in extending benefit of the exemption Notification No. 204/ 92-Customs dated 19.5.92 on inputs imported against a Quantity based licence issued under para 62A of the Exim Policy. It was stated that the term "...

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Circular No. 108/95-Custom Duty Dated 13/10/1995

Circular No. 108/95-Custom Duty (13/10/1995)

The question of allowing benefit of exemption under notification No. 204/92- Customs dt. 19.5.92 to Advance Licences issued to a Merchant Exporter has been examined in view of doubts raised by some of the Commissioner of Customs...

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Duty Drawback- Minimum Amount-Fresh Instructions

Circular No. 107/95-Custom Duty (11/10/1995)

Attention is invited to Ministry's telex of even number dated the 21st September, 1995 on the subject. Copy of Notification No. 53/95-Customs and Central Excises (NT) dated 18th September, 1995 was also enclosed with the post copy of the said telex...

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Drawback – Brand Rate can be got fixed for claim of drawback of anti- dumping duty paid

Circular No. 106/95-Custom Duty (11/10/1995)

The matter has been examined in the Board and it is clarified that Anti-Dumping Duty which is leviable under Section 9A of the Customs Tariff Act read with Section 12 of the Customs Act is rebatable as Drawback in terms of Section 75 of the Customs Act. Since Anti-Dumping Duty is not taken into consideration while fixing All Industry rate...

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Bill of Entry (Electronic Declaration) Regulations, 1995

Notification No. 62/95-Customs (N.T.) (05/10/1995)

1. Short title, extent and commencement.- (1) These regulations may be called the Bill of Entry (Electronic Declaration) Regulations, 1995. (2) They shall extend to goods imported by air at the Delhi Airport. (3) They shall come into force on the date of their publication in the Official Gazette....

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Circular No. 105/95-Custom Duty Dated 29/9/1995

Circular No. 105/95-Custom Duty (29/09/1995)

I am directed to refer to notification no. 117/ 95-Cus. dt. 12.6.95, vide which the ten customs notification (13/ 81, 3/88, 138/91, 140/ 91, 95/93, 96/93, 126/94, 133/94, 177/94 - all customs) relating to EOU /EPZ /STP /EHTP were amended to omit the condition of obtaining the case by case permission of the Board of Approvals before import...

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Radial tyres import as scrap not permitted

Circular No. 104/95-Custom Duty (28/09/1995)

I am directed to say as per Para 27 of the Handbook of Procedure on Import and Export, used rubber tyres and tubes can be imported without a licence provided the rubber tyres is cut in bead wire and used rubber tubes are cut into two pieces. The Automotive Tyres Manufactures Association has alleged that certain consignment of radial tyres...

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Interpretation or rules, etc. – Reference to Board and other commissioners Essential

Circular No. 103/95-Custom Duty (22/09/1995)

It has been observed that references on issues relating to interpretation of law, classification or procedure are being made to the Board without endorsing the copies to other Commissioners. This results in delay in examination of the issue in the Board as the Board has to consult other Commissioners of Customs in this regard. I am theref...

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Issue of notification as per section 54 of the Customs Act, 1962 – Transhipment- regarding

Circular No. 102/95-custom Duty (22/09/1995)

Notification No. 50-Customs (NT) dated 6th September, 1995 has been issued appointing all the Customs ports including Inland Container Depots (ICDs) and Customs Airports notified under section 7 of the Customs Act, 1962 as places for transhipment of imported goods...

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Quantity-based advance Licences – No additional duty on imports for exports of leather and readymade garments

Circular No. 101/95-Custom Duty (21/09/1995)

Your attention is dawn to Notification No. 80/95-Customs and Circular No. 32/95 dated 31st March, 1995 wherein the changes in the Duty Exemption Scheme in terms of the changes announced in the Exim Policy on 31.3.95 were communicated. Representations were received regarding grant of exemption to the additional duty of Customs in respect ...

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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.

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.