Custom Duty

RoSCTL Scheme on export of garments and made-ups

Ministry of Textiles had notified a new scheme called Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) on export of garments and made-ups vide Notification No. 14/26/2016-IT (Vol II) dated 7th March, 2019, w.e.f. 7th March, 2019. RoSCTL Scheme shall remain in force up to 31.03.2020. Old scheme ROSCTL shall be discontinued....

Read More

Duty Credit Ledger Under Customs

1. One of the important feature proposed in the Budget 2020 under Customs Law is the implementation of the system of Duty Credit Ledger. Sec. 51B is proposed to be inserted in the Customs Act, 1962 to implement the same. Said provisions reads as under: “51B. (1)The Central Government may, by notification in the Official […]...

Read More

5% Health Cess on Import of Medical Devices w.e.f. 2nd Feb 2020

Health Cess on Medical Devices falling under Heading 9018-9022 are being announced in the Budget’2020. The Health Cess @ rate of 5% shall be Levied with effect from 2nd Feb’2020....

Read More

Circulars cannot prevail over Statute: Madras High Court

Considering the findings of the Apex Court in Commissioner of Central Excise, Bolpur v. Ratan Melting and Wire Industries it is clear that Circulars cannot prevail over the statute. Circulars are issued only to clarify the statutory provision and it cannot alter or prevail over the statutory provision. In such circumstances, it is clear ...

Read More

Direct Payment of THC to Terminals – A Measure to Bring in Transparency

Terminal Handling Charge (THC) is currently levied by the port terminals on the shipping lines for services such as unloading cargo containers from the ship and carting them to the storage yard in case of imports and vice versa for exports. THC is charged by both the load port and discharge port and that is […]...

Read More

CBIC Concept Paper on Faceless e-Assessment for imported goods

Notice calling for suggestions, views, comments etc. from stakeholders on Faceless e-Assessment for imported goods The general public and the trade at large are hereby informed that CBIC is planning to launch Faceless e-Assessment for imported goods. A detailed Concept Paper on Faceless e-Assessment is enclosed. All members of the trade/ ...

Read More

CBIC destroys large quantities of narcotics & psychotropic drugs

Central Board of Indirect Taxes and Customs (CBIC) destroys large quantities of narcotics and psychotropic drugs and substances across the country Dealing a debilitating blow to the smugglers of Prohibited narcotics and Psychotropic Drugs and Substances, the Customs formations under the CBIC carried out an all India destruction of huge qu...

Read More

CBIC Introduces Machine based automated clearance of imported goods

Keeping with the Government’s objective of furthering ease of doing business, particularly in trading across borders, the Central Board of Indirect Taxes and Customs has introduced Machine based automated clearance of imported goods....

Read More

Budget 2020: Explanatory Memoranda to Custom Duty notifications

Article contains Explanatory Memoranda to Notification Nos. 01/2020-Customs to 12/2020-Customs, dated 2nd February, 2020, Explanatory Memoranda to Notification Nos. 09/2020-Customs (N.T.) to 10/2020 and Explanatory Memorandum to Notification No. 01/2020-Customs (SG), dated 2nd February, 2020. Explanatory Memoranda to Notification Nos. 01/...

Read More

Increase in Customs Duty on Footwear and Furniture- Budget 2020

5%  Health Cess proposed to give impetus to the Domestic Medical Equipment Industry; proceeds to be used for creating health infrastructure in aspirational districts Anti-dumping duty on PTA being abolished in the larger public interest Basic customs duty on imports of news print and light-weight coated paper proposed to be reduced from ...

Read More

Import of capital goods under EPCG Scheme was exempt from additional duty

Prince Spintex Pvt. Ltd. Vs Union of India (Gujarat High Court) - Prince Spintex Pvt. Ltd. Vs Union of India (Gujarat High Court) Chapter 5 of the Foreign Trade Policy, 2015-2020 makes provision for the EPCG Scheme, which is an incentive scheme. The incentive given is that the importer holding a valid authorisation for capital goods covered under the EPCG Scheme w...

Read More

Sale of goods affected after clearing from Customs was not a high sea sales

Commissioner of Customs Vs MMTC Limited (CESTAT Hyderabad) - The sale of goods was not a high sea sales which was affected after clearing from the Customs. Otherwise, NTPC, the buyer would have filed the Bill of Entry and cleared the goods. The mere fact that the bids for import were finalised by the respondent (MMTC) after approval of NTPC, would not change ...

Read More

Cabling of various parts of agriculture machine is not ‘manufacture’

SPL Technologies Pvt. Ltd. Vs Principal Commissioner of Customs (Import) (CESTAT Delhi) - CESTAT Delhi has held that mere cabling of various parts of agricultural machine (laser level transmitter, laser receivers, control boxes connecting cables and rechargeable battery packs) so as to let them function as a complete machine does not amount to manufacture and hence benefit of Sl. No. 399...

Read More

Advance authorization- Para 4.28(f) of FTP-HoP not applicable to cases where export obligation fulfilled

PCL Oil & Solvent Limited Vs Commissioner of Customs (CESTAT Ahmedabad) - CESTAT Ahmedabad has held that Para 4.28(f) of Handbook of Procedure, 2004-09 relating to regularization of bonafide default by exporters using Advance Authorisations, cannot be applied straight away to normal imports where export obligations have been fulfilled....

Read More

Advance authorisations – HC quashes ‘Prior import condition’

Maxim Tubes Company Pvt. Ltd. Vs Union of India (Gujarat High Court) - Gujarat High Court has quashed the ‘pre-import condition’ under Advance Authorisation regarding prior imports for manufacture of export goods. It observed that such condition, after introduction of GST, lead to cash blockage and made imports under Advance Authorisation next to impossible. The co...

Read More

Transportation of goods to and from India through a foreign Territory

Circular No. 14/2020-Customs - (21/02/2020) - The transportation of goods from one part of India to another through a foreign territory was hitherto covered by the Transportation of Goods (Through Foreign Territory) Regulations, 1965. Such movements were however uncommon and the regulations were not effectively used due to absence of bilateral ...

Read More

Transportation of Goods (Through Foreign Territory), Regulations, 2020

Notification No. 16/2020-Customs (N.T.) - (21/02/2020) - (1) These regulations may be called the Transportation of Goods (Through Foreign Territory), Regulations, 2020. (2) They shall come into force on the day of their publication in the official gazette....

Read More

CBIC notifies Rate of Exchange of Foreign Currencies wef 21.02.2020

Notification No.15/2020-Customs (N.T.) - (20/02/2020) - Exchange Rate Notification No. 15/2020-Customs (NT) dated 20th February, 2020 Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 21st February, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification...

Read More

Customs preparing for surge in Import/Export after ‘Coronavirus’ Control

Instruction No. 02/2020-Customs - (20/02/2020) - Due to ongoing shutdown in China on account of Coronavirus outbreak, there is an apprehension of disruption in supply of raw materials/ inputs to our industrial units which were dependent on these raw materials. There could also be a dip in offtake in exports to China. On the contrary, there is a st...

Read More

Posting/transfer Order of Chief Accounts Officers of Customs Grade

Office Order No. 01/2020 and 02/2020 - (19/02/2020) - Office Order No. 01/2020 and 02/2020 With the approval of competent authority, the following transfer postings in the Grade of Chief Accounts Officers (CAO) of Customs in Central Board of Indirect Taxes and Customs who were promoted vide Order No. F.No.A-32012/05/2017-Ad.IIA dated 31/01/2019 are he...

Read More

Browse All Categories

CA, CS, CMA (4,473)
Company Law (5,376)
Custom Duty (7,626)
DGFT (4,116)
Excise Duty (4,328)
Fema / RBI (3,973)
Finance (4,171)
Income Tax (31,996)
SEBI (3,320)
Service Tax (3,517)

Recent Posts in "Custom Duty"

Import of capital goods under EPCG Scheme was exempt from additional duty

Prince Spintex Pvt. Ltd. Vs Union of India (Gujarat High Court)

Prince Spintex Pvt. Ltd. Vs Union of India (Gujarat High Court) Chapter 5 of the Foreign Trade Policy, 2015-2020 makes provision for the EPCG Scheme, which is an incentive scheme. The incentive given is that the importer holding a valid authorisation for capital goods covered under the EPCG Scheme would be exempted from payment of [&helli...

Read More

Transportation of goods to and from India through a foreign Territory

Circular No. 14/2020-Customs (21/02/2020)

The transportation of goods from one part of India to another through a foreign territory was hitherto covered by the Transportation of Goods (Through Foreign Territory) Regulations, 1965. Such movements were however uncommon and the regulations were not effectively used due to absence of bilateral arrangements with neighbouring countries...

Read More

Transportation of Goods (Through Foreign Territory), Regulations, 2020

Notification No. 16/2020-Customs (N.T.) (21/02/2020)

(1) These regulations may be called the Transportation of Goods (Through Foreign Territory), Regulations, 2020. (2) They shall come into force on the day of their publication in the official gazette....

Read More

CBIC notifies Rate of Exchange of Foreign Currencies wef 21.02.2020

Notification No.15/2020-Customs (N.T.) (20/02/2020)

Exchange Rate Notification No. 15/2020-Customs (NT) dated 20th February, 2020 Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 21st February, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 15/2020 – Customs (N.T.) New ...

Read More

CBIC Concept Paper on Faceless e-Assessment for imported goods

Notice calling for suggestions, views, comments etc. from stakeholders on Faceless e-Assessment for imported goods The general public and the trade at large are hereby informed that CBIC is planning to launch Faceless e-Assessment for imported goods. A detailed Concept Paper on Faceless e-Assessment is enclosed. All members of the trade/ ...

Read More
Posted Under: Custom Duty |

Customs preparing for surge in Import/Export after ‘Coronavirus’ Control

Instruction No. 02/2020-Customs (20/02/2020)

Due to ongoing shutdown in China on account of Coronavirus outbreak, there is an apprehension of disruption in supply of raw materials/ inputs to our industrial units which were dependent on these raw materials. There could also be a dip in offtake in exports to China. On the contrary, there is a strong likelihood of an immediate surge in...

Read More

RoSCTL Scheme on export of garments and made-ups

Ministry of Textiles had notified a new scheme called Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) on export of garments and made-ups vide Notification No. 14/26/2016-IT (Vol II) dated 7th March, 2019, w.e.f. 7th March, 2019. RoSCTL Scheme shall remain in force up to 31.03.2020. Old scheme ROSCTL shall be discontinued....

Read More
Posted Under: Custom Duty |

Posting/transfer Order of Chief Accounts Officers of Customs Grade

Office Order No. 01/2020 and 02/2020 (19/02/2020)

Office Order No. 01/2020 and 02/2020 With the approval of competent authority, the following transfer postings in the Grade of Chief Accounts Officers (CAO) of Customs in Central Board of Indirect Taxes and Customs who were promoted vide Order No. F.No.A-32012/05/2017-Ad.IIA dated 31/01/2019 are hereby ordered with immediate effect and u...

Read More

RoSCTL Scheme & Incentive for export of garments & made-ups

Circular No. 13/2020-Customs (19/02/2020)

It may be noted that under the erstwhile RoSL scheme that was in operation till 06.03.2019, the rebate was provided in exporter's bank account based on budgetary allocation of MoT. However, under the RoSCTL and Additional Ad-hoc Incentive schemes, the rebate will be granted by DGFT in the form of electronic duty credit scrips similar to t...

Read More

Duty Credit Ledger Under Customs

1. One of the important feature proposed in the Budget 2020 under Customs Law is the implementation of the system of Duty Credit Ledger. Sec. 51B is proposed to be inserted in the Customs Act, 1962 to implement the same. Said provisions reads as under: “51B. (1)The Central Government may, by notification in the Official […]...

Read More
Posted Under: Custom Duty |

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.