Custom Duty

Bonded Manufacturing scheme in Customs – A Feasibility Study

Government of India through the Central Board of Indirect Taxes and Customs (CBIC) has announced a scheme of Customs Bonded manufacturing cum warehousing commonly known as MOOWR i.e. Manufacturing and other operations in a Warehouse....

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Manufacture & Other Operations in Customs Warehouse- FAQs

Manufacture and Other Operations in Customs Warehouse Frequently Asked Questions Central Board of Indirect Taxes and Customs (CBIC) has launched a revamped and streamlined program to attract investments into India and strengthen Make in India. This program is based upon Section 65 of the Customs Act, 1962, which enables conduct of manufac...

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FAQs- Sanchit application For Import Export Users

Q: What is eSanchit application? The Central Board of Indirect Taxes & Customs (CBIC) has launched eSanchit (e-Storage and Computerized Handling of Indirect Tax documents) for paperless processing, uploading of supporting documents and to facilitate the trading across Borders. It has already been made available to importers and export...

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Provisions of Refunds under Customs Act, 1962

Section 26 of the Customs Act, 1962 prescribes provision for refund of export duty, Section 26A of the Customs Act, 1962 deals with refund of import duty in certain cases and Section 27 of the Customs Act, 1962 prescribes claim for refund of duty in case of excess payment duty on importation. The relevant provisions […]...

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Electronic Transmission of Out of Charge copy of Bill of Entry & eGatepass

Two major reforms for reduction in Physical Interface and enhancing Ease of Doing Business Electronic Transmission of Out of Charge copy of Bill of Entry (eOoC) Electronic Transmission of E- Gate pass (eGatepass) *This presentation is only for training purposes – For details please refer to CBIC Circular No. 19/2020-Cus dated 13.04....

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In Bond Manufacturing & Other Operations- CBIC Web interaction

In Bond Manufacturing offers deferred import duty on both capital goods as well as raw material or inputs used in bonded manufacturing. The import duty gets remitted if the finished goods are exported. However, if the finished goods are cleared in the domestic market, the import duty on raw material used becomes payable, but without any b...

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CBIC kicked off Electronic Shipping Bill and Gate Pass

The Central Board of Indirect Taxes & Customs (‘CBIC’) has taken several measures to facilitate and expedite the custom clearance processes contact-less, face-less and hurdle-less. Now, the CBIC, in order to do the paper-less clearances, has launched digitally signed shipping bills and e-gatepass vide Circular No.30/2020-Customs a...

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CBIC Enables End to End Paperless Exports under Turant Customs

Shri Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC) here yesterday unveiled a Secure QR coded Shipping Bill that would be electronically sent to exporters after the Customs allows export. This eliminates in one stroke the requirement of the exporters having to approach the Customs officers for proof of export. Th...

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Result of Customs Brokers Examination, 2020 conducted on 06.03.2020

The written Customs Brokers Examination, 2020 was conducted on 06.03.2020 at designated centers across India. In terms of Regulation 6(2) of CBLR, 2018 the list of candidates who have passed the written examination is as follows:...

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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/ ...

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Benefit of Basic Custom Duty exemption on import of ‘GoPro HERO5 Black’ Action Camera Allowed

Creative Peripherals & Distribution Ltd Vs Commissioner of Customs (CESTAT Mumbai) - whether assessing officer is correct in rejecting the benefit of Basic Customs Duty exemption claimed by the appellant on the import of ‘GoPro HERO5 Black’ Action Camera?...

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HC Grant Refund for Excess Custom Duty paid as per Amended Section 25

Ruchi Soya Industries Limited Vs Union of India (Madras High Court) - The issue under consideration is whether the petitioner is liable for the refund for the excess amount of duty paid under customs as per the amended section 25 of Customs Act?...

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No Custom Penalty for goods cleared by officers after signing Bond

Bharat Tissues Pvt. Ltd. Vs C.C. (CESTAT Bangalore) - Penalty under Section 114A and other penal provisions cannot be invoked when the goods were permitted to be cleared by the officers. However, the Revenue will be free to recover duty along with interest in terms of the Notification....

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In absence of ‘intent to conceal’ cannot be construed as smuggled: CESTAT

Ahamed Gani Natchiar Vs Commissioner of Customs (CESTAT Chennai) - CESTAT directs Customs Authorities to return confiscated gold to Foreign National- lack of evidence and flimsy investigation by the authorities. Held that in the absence of 'intent to conceal' cannot be construed as smuggled....

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Tribunal can direct provisional release of seized gold, jewelry lies

Additional Director General (Adjudication) Vs Its My Name Pvt Ltd (Delhi High Court) - Tribunal's power and jurisdiction of  hearing an appeal against an order of provisional release was coequal with the power exercised by the adjudicating authority. Tribunal had the power to direct provisional release of gold jewellery, seized as well as to fix the terms....

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CBIC exempts goods for Kudankulam Nuclear Power Project

Notification No. 32/2020–Customs [G.S.R. 494(E)] - (07/08/2020) - CBIC amends notification No. 50/2017-Customs dated 30th June, 2017 so as to exempt goods for Kudankulam Nuclear Power Project (KKNPP) Units- 5 and 6 (1000 MW x 2) vide Notification No. 32/2020–Customs dated 7th August, 2020 MINISTRY OF FINANCE (Department of Revenue) Notification No. 32/2020–Cus...

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Tariff Notification No. 70/2020-Customs (N.T.), Dated: 07.08.2020

Notification No. 70/2020-Customs (N.T.) [S.O. 2649(E)] - (07/08/2020) - Tariff Notification No. 70/2020-Customs (N.T.), Dated: 07.08.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 70/2000-CUSTOMS (N....

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Anti-subsidy investigation of imports of Flat Products of Stainless Steel from Indonesia

Case No: CVD-OI-05/2019 - (07/08/2020) - Case No: CVD-OI-05/2019 Preliminary Findings in the anti-subsidy investigation concerning imports of Flat Products of Stainless Steel from Indonesia....

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CBIC notifies Rate of Exchange of Foreign Currencies wef 6.8.2020

Notification No. 69/2020 - Customs (N.T.) - (06/08/2020) - CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 07.08.2020 vide Notification No. 69/2020-Customs (N.T.), Dated: 6th August, 2020. Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) ***** Notification No. 69/2020...

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Tariff Notification No. 68/2020-Customs (N.T.), Dated 06.08.2020

Notification No. 68/2020-Customs (N.T.) [S.O. 2645(E)] - (06/08/2020) - Tariff Notification No. 68/2020-Customs (N.T.), Dated : 06.08.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 68/2020-Custo...

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Recent Posts in "Custom Duty"

CBIC exempts goods for Kudankulam Nuclear Power Project

Notification No. 32/2020–Customs [G.S.R. 494(E)] (07/08/2020)

CBIC amends notification No. 50/2017-Customs dated 30th June, 2017 so as to exempt goods for Kudankulam Nuclear Power Project (KKNPP) Units- 5 and 6 (1000 MW x 2) vide Notification No. 32/2020–Customs dated 7th August, 2020 MINISTRY OF FINANCE (Department of Revenue) Notification No. 32/2020–Customs New Delhi, the 7th August, 2020 G.S...

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Tariff Notification No. 70/2020-Customs (N.T.), Dated: 07.08.2020

Notification No. 70/2020-Customs (N.T.) [S.O. 2649(E)] (07/08/2020)

Tariff Notification No. 70/2020-Customs (N.T.), Dated: 07.08.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 70/2000-CUSTOMS (N.T.) New Delhi, the 7th August, 2020 S.O....

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Anti-subsidy investigation of imports of Flat Products of Stainless Steel from Indonesia

Case No: CVD-OI-05/2019 (07/08/2020)

Case No: CVD-OI-05/2019 Preliminary Findings in the anti-subsidy investigation concerning imports of Flat Products of Stainless Steel from Indonesia....

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In Bond Manufacturing & Other Operations- CBIC Web interaction

In Bond Manufacturing offers deferred import duty on both capital goods as well as raw material or inputs used in bonded manufacturing. The import duty gets remitted if the finished goods are exported. However, if the finished goods are cleared in the domestic market, the import duty on raw material used becomes payable, but without any b...

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Posted Under: Custom Duty |

CBIC notifies Rate of Exchange of Foreign Currencies wef 6.8.2020

Notification No. 69/2020 - Customs (N.T.) (06/08/2020)

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 07.08.2020 vide Notification No. 69/2020-Customs (N.T.), Dated: 6th August, 2020. Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) ***** Notification No. 69/2020 – Customs (N.T.) New Delhi, dated...

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Tariff Notification No. 68/2020-Customs (N.T.), Dated 06.08.2020

Notification No. 68/2020-Customs (N.T.) [S.O. 2645(E)] (06/08/2020)

Tariff Notification No. 68/2020-Customs (N.T.), Dated : 06.08.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 68/2020-Customs (N.T.) New Delhi, the 6th August, 202...

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Sunset Review Investigation of ADD imposed on imports of Phosphoric Acid

Case No. (SSR) 16/2019 (06/08/2020)

Sunset Review Investigation of Anti-Dumping duty imposed on imports of Phosphoric Acid of all grades and all concentrations (excluding Agriculture/Fertilizer Grade) originating in or exported from Korea RP...

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Bonded Manufacturing scheme in Customs – A Feasibility Study

Government of India through the Central Board of Indirect Taxes and Customs (CBIC) has announced a scheme of Customs Bonded manufacturing cum warehousing commonly known as MOOWR i.e. Manufacturing and other operations in a Warehouse....

Read More
Posted Under: Custom Duty |

Anti-dumping investigations on imports of PET Resin

OI CASE No: 17/2019 (05/08/2020)

PRELIMINARY FINDINGS- OI CASE No: 17/2019 Anti-dumping investigations on the imports of Polyethylene Terephthalate (PET Resin) originating in or exported from China PR....

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Anti-dumping duty on imports of Toluene Di- Isocyanate- Reg.

Case No. AD-MT R-08/2020 (05/08/2020)

Initiation of Mid-Term Review limited to change of name of producer/exporter from Korea RP regarding anti-dumping duty imposed on imports of Toluene Di- Isocyanate (TDI) originating in or exported from China PR, Japan and Korea RP. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce ) (DIRECTORATE GENERAL OF TRADE REMEDIES) INITIATI...

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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.

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