Custom Duty

Budget 2018 – Proposed Changes in Customs Law

Changes in Customs tariff ( Rates):- Make in India theme, Reduction in duty on raw materials, Increase in duty on finished goods Significant Changes in Legislative Changes in Customs Act, 1962 Changes in Customs tariff Act, 1975...

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Procedure for AEO certification and Benefits of AEO under Customs

AEO is a trade facilitation scheme for ease of doing business in light of international development, holder of this certificate is entitled for privilege, benefits, exemption and relaxation on account of import and export. This certificate is issued for particular period after that to be renewed....

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Brief on Drawback Provisions with effect from 01.10.2017

Duty Drawback provisions are made to grant rebate of duty or tax chargeable on any imported / excisable materials and input services used in the manufacture of export goods....

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Budget 2018 Video presentation on important changes in Indirect Taxes

For understanding key highlights of the Budget, Mr. Bimal Jain has recorded a Video Presentation on Union Budget, 2018, discussing the various amendments brought/proposed in Indirect Taxes along with suggesting the GST road map which could have been the part of Budget....

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e-SANCHIT Under Customs – A Brief Note

As part of its “Ease of Doing Business” Initiatives, the Central Board of Excise & Customs (CBEC) has launched e- SANCHIT facility on a pilot basis recently for paperless processing and to facilitate the trading across Borders with ease....

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Budget 2018 proposes Social Welfare Surcharge On Imported Goods

Shri Arun Jaitley proposed to abolish the Education Cess and Secondary and Higher Education Cess on imported goods, and in its place impose a Social Welfare Surcharge. While presenting the General Budget 2018-19 in Parliament today, Shri Jaitley elaborated that the Social Welfare Surcharge at the rate of 10% of the aggregate duties of Cus...

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CBEC to be renamed central board of indirect taxes and customs (CBIC)

With the roll out of GST, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2018-19 in Parliament today, announced that the name of Central Board of Excise and Customs [CBEC] will be changed to Central Board of Indirect Taxes and Customs (CBIC). ...

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Budget 2018 to smoothen Custom Act Dispute Resolution Process

Changes Proposed To The Customs Act To Improve Ease Of Doing Business By Smoothening Dispute Resolution Process And Reducing Litigation. Shri Jaitley added that to smoothen dispute resolution processes and to reduce litigation, these amendments are being made to provide for pre-notice consultation, definite timelines for adjudication and ...

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Budget 2018: Changes in Custom Duty on Mobile Phones, Raw Cashew & TV Parts

To Incentivise Domestic Value Addition And Make In India, Customs Duty Increased On Mobile Phones And Tv Parts. Measure Will Help Promote Creation Of More Jobs. Customs Duty On Raw Cashew Halved...

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Budget 2018- Explanatory memorandum to Custom Duty Notifications

Budget 2018- Explanatory memorandum to Notifications no. 6/2018-Customs to 23/2018-Customs all Dated 2nd February 2018:- S. NO. Notification No. Description 1. 6/2018-Customs dated 2nd February 2018 Seeks to further amend notification No. 50/2017- Customs dated the 30th June 2017 so as to prescribe effective rate of basic customs duty (BC...

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Notice against other noticees gets invalidated if SCN against main Noticee is Set Aside

Manasa Im pex Services Vs. S/ Shri S. Murugappan (CESTAT Chennai) - The Show Cause Notice has to be viewed in its entirety and cannot be vivisected as may be convenient for the Revenue. Thus, if a show cause notice is found as not valid or issued without jurisdiction in respect of the main protagonist, the very same SCN cannot be held as sustainable for other notice...

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Mandatory Pre-Deposit U/s. 129E of Customs Act is Constitutionally Valid: Bombay HC

Haresh Nagindas Vora Vs Union Of India (Bombay High Court) - The Bombay High Court has upheld the constitutional validity of Section 129 E of the Indian Customs Act, 1962, that makes pre- deposit mandatory for filing an appeal before the tribunal or the Commissioner (Appeals) concerned....

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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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CBEC imposes Anti-dumping duty on Ceramic Tableware & Kitchenware

Notification No. 4/2018-Customs (ADD) - (21/02/2018) - Seeks to impose anti-dumping duty on Ceramic Tableware and Kitchenware, excluding knives and toilet items, originating in or exported from China PR....

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Notification No. 14/2018-Customs (N.T.) Dated 19th February, 2018

Notification No. 14/2018-Customs (N.T.) - (19/02/2018) - In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government hereby makes the following rules to amend the Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the R...

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Field formations can obtain SDR/CDR details directly from telecom companies: CBEC

Instruction No. 03/2018-Customs - (16/02/2018) - This is reportedly being done as telecom service providers are not providing these details to the field formations since they are not a designated Law Enforcement Agency' like DRI under the provisions of Section 5(2) of Indian Telegraph Act, 1885....

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Customs Rate of exchange of foreign currency wef 16.02.2018

Notification No. 13/2018-Customs (N.T.) - (15/02/2018) - Notification No.13/2018-Customs (N.T.) CBEC hereby determines rate of exchange of conversion of each of foreign currencies wef 16.02.2018...

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Notification No. 12/2018-Customs (N.T.), Dated: 15.02.2018

Notification No. 12/2018-Customs (N.T.) - (15/02/2018) - Notification No. 12/2018-CUSTOMS (N.T.) 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 notifica...

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Recent Posts in "Custom Duty"

Budget 2018 – Proposed Changes in Customs Law

Changes in Customs tariff ( Rates):- Make in India theme, Reduction in duty on raw materials, Increase in duty on finished goods Significant Changes in Legislative Changes in Customs Act, 1962 Changes in Customs tariff Act, 1975...

Read More
Posted Under: Custom Duty |

CBEC imposes Anti-dumping duty on Ceramic Tableware & Kitchenware

Notification No. 4/2018-Customs (ADD) (21/02/2018)

Seeks to impose anti-dumping duty on Ceramic Tableware and Kitchenware, excluding knives and toilet items, originating in or exported from China PR....

Read More

Notification No. 14/2018-Customs (N.T.) Dated 19th February, 2018

Notification No. 14/2018-Customs (N.T.) (19/02/2018)

In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government hereby makes the following rules to amend the Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Rules, 2011,...

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Field formations can obtain SDR/CDR details directly from telecom companies: CBEC

Instruction No. 03/2018-Customs (16/02/2018)

This is reportedly being done as telecom service providers are not providing these details to the field formations since they are not a designated Law Enforcement Agency' like DRI under the provisions of Section 5(2) of Indian Telegraph Act, 1885....

Read More

Notice against other noticees gets invalidated if SCN against main Noticee is Set Aside

Manasa Im pex Services Vs. S/ Shri S. Murugappan (CESTAT Chennai)

The Show Cause Notice has to be viewed in its entirety and cannot be vivisected as may be convenient for the Revenue. Thus, if a show cause notice is found as not valid or issued without jurisdiction in respect of the main protagonist, the very same SCN cannot be held as sustainable for other noticees like the appellants herein. ...

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Customs Rate of exchange of foreign currency wef 16.02.2018

Notification No. 13/2018-Customs (N.T.) (15/02/2018)

Notification No.13/2018-Customs (N.T.) CBEC hereby determines rate of exchange of conversion of each of foreign currencies wef 16.02.2018...

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Notification No. 12/2018-Customs (N.T.), Dated: 15.02.2018

Notification No. 12/2018-Customs (N.T.) (15/02/2018)

Notification No. 12/2018-CUSTOMS (N.T.) 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 Government of India in the M...

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CBEC reduces Customs Duty on motorcycles

Notification No. 26/2018-Customs (12/02/2018)

CBEC seeks to further amend the notification No. 50/2017- Customs, dated the 30th June 2017 so as to reduce the Basic Customs Duty on motorcycles falling under tariff heading 8711....

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CBEC extend eSANCHIT to all EDI locations on a voluntary basis

Instruction No. 02/2018-Customs (07/02/2018)

It has been decided to extend eSANCHIT to all EDI locations on a voluntary basis. Though this facility would be provided to trade on a voluntary basis, it must be ensured, in preparation for making this facility mandatory, that every Customs broker and self-filer (all ICEGATE users) develops the capability to use eSANCHIT as envisaged in ...

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Custom Duty on import of Chana (Chickpeas) increased to 40%

Notification No. 25/2018-Customs (06/02/2018)

Seeks to increase BCD tariff rate on Chana (Chickpeas), [Tariff item 0713 20 0] from 30% to 40% by invoking section 8A (1) of the Customs Tariff Act, 1975 and accordingly, the effective rate of BCD on Chana (Chickpeas), will also be 40%...

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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.