Custom Duty

Benefit of Exemption Notification- Reference Answered by Supreme Court

What is the interpretative rule to be applied while interpreting a tax exemption reportable provision/notification when there is an ambiguity as to its applicability with reference to the entitlement of the assessee or the rate of tax to be applied?...

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Exemption Notifications must be interpreted strictly: Supreme Court

In case of ambiguity in a charging provision, benefit must necessarily go in favour of assessee but the same is not true for an exemption notification. When there is ambiguity in exemption notification which is subject to strict interpretation, the benefit of such ambiguity cannot be claimed by the subject/assessee and it must be interpre...

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7 Post Budget Suggestion on Custom Law by ICAI

ICAI submitted sugesstion on 1. Levy of Integrated Tax on goods remaining in Bonded warehouse 2. Audit of assessment of imported or exported goods. 3. Power to issue supplementary notice 4. Communication of an order, decision, summon, notice etc. under Customs Act, 1962 through electronic mails. 5. Requirements for being an applicant o...

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CBEC: Why should officials cheat & indulge into frivolous litigation

Rajiv Gupta The moot question is what the worth of the laws in this country is! Are they even worth the paper on which they are printed? The officials indulge into outright cheating & even abuse the beneficiary or issue veiled threats. This is the ground reality & no one seems to be bothered. The […]...

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Sale in the Course of Import

Goods imported into India are cleared for home consumption by payment of custom duty under Section 12 of the Customs Act, 1962 on the value determined under Section 14 of the Act....

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CBI arrests 19, including customs officials for bribery & smuggling

The Central Bureau of Investigation has arrested 19 accused (6 Customs official & 13 private persons) including an Assistant Commissioner, Superintendents, Inspectors, private persons(including Sri Lankan Nationals) in a case related to alleged bribery and smuggling of goods....

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Anti-dumping Duty on import of Specified Stainless Steel Products

Anti-dumping Duty on the import of Specified Stainless Steel Products for providing relief to the Domestic Steel Industry The Government has imposed Anti- Dumping Duties on imports of specified Stainless-Steel Products vide: i. Notification No 61/2015- Customs (ADD) dated 11.12.2015 on imports of Cold Rolled Flat Products of Stainless Ste...

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Custom dept. proposes simplified procedures for exports through India Post

Customs and Postal Department hold First ever Joint Conference to deliberate on streamlining imports and exports by post; To cater to the SMEs and to boost the Make in India program, Customs Department proposes new simplified procedures for exports through India Post. Customs Department proposes new simplified procedures for exports throu...

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CBI arrests 4 Deputy Commissioners & one Custom Superintendent

The Central Bureau of Investigation has arrested four Deputy Commissioners and one Superintendent, all from Customs Department, Mumbai and a private person (CHA) in an alleged bribery case....

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DRI busts Diesel Smuggling racket

DRI busts Diesel Smuggling racket; 14 containers of diesel seized and 4 persons, including the Mastermind and one Hawala Operator, arrested under the Customs Act 1962....

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Benefit of ambiguity in Tax Exemption Notification should be given to Revenue: SC

Commissioner of Customs (Import) Vs M/s Dilip Kumar and Company & Ors. (Supreme Court of India) - (1) Exemption notification should be interpreted strictly; the burden of proving applicability would be on the assessee to show that his case comes within the parameters of the exemption clause or exemption notification....

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Madras HC on Invocation of Section 111(m) of Customs Act

M/s. Priyanka Enterprises Vs The Joint Commissioner of Customs (Madras High Court) - High Court held that Section 111(m) of Customs Act can only be invoked if goods do not correspond in respect of value or any other particular with the Entry made under the Act...

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Contracts awarded by MMRDA do not qualify for exemption under N/No. 21/2002-Cus.

Commissioner of Customs (I) Vs M/s Mahavir Roads & Infrastructure Pvt. Ltd. (CESTAT Mumbai) - Learned AR argued that Commissioner (Appeals) has wrongly interpreted Notification No. 21/2002 by construing that Mumbai Metropolitan Regional Development Authority (MMRDA) is a road construction corporation under the control of the State Government....

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Custom Broker Licence cannot be refused merely for penalization U/s. 114 of Customs Act, 1962

M/s Global Marine Agencies Vs CC (Prev.) (CESTAT Delhi) - The appellant has a Custom Broker Licence. The Commissioner of Customs, Jodhpur by issue of the impugned order, rejected the application dated 26.02.2015 filed for renewal of their Customs Broker Licence....

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Imposition of penalty not justified in absence of motive to mis-declare goods

M/s. Regal Alloys Pvt. Limited Vs Commissioner of Customs (Cestat Chandigarh) - All the three appeals are arising out of the same impugned order passed by the Commissioner (Appeals) and as such, are being disposed of by a common order....

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Customs (Finalisation of Provisional Assessment) Regulations, 2018

Notification No. 73/2018-Customs (N.T.) - (14/08/2018) - CBIC notifies vide Notification No. 73/2018-Customs (N.T.) dated 14th August, 2018 Customs (Finalisation of Provisional Assessment) Regulations, 2018...

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Exchange Rates Notification No. 72/2018-Custom(N.T.) Dated 14.08.2018

Notification No. 72/2018-Customs (N.T.) - (14/08/2018) - Customs Rate of Exchange of Foreign Currency Conversion wef 1508.2018 notified vide Notification No. 72/2018 – Customs (N.T.) dated 14th August, 2018...

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Tariff Notification No. 71/2018-Customs (N.T.) dated 14th August, 2018

Notification No. 71/2018-Customs (N.T.) - (14/08/2018) - Tariff Notification No. 71/2018-CUSTOMS (N.T.) dated 14th August, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg...

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Clarification regarding bank guarantee requirement for bond executed by EOUs

Various representations have been received regarding difficulties faced by EOUs with respect to requirements of bank guarantees in view of Circular no. 48/2017-Customs dated 08.12.2017 issued by CBIC. The matter has been examined....

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Safeguard duty on Solar cells whether or not assembled in modules or panels

Instruction No. 12/2018-Customs - (13/08/2018) - Vide notification No. 1/2018-Customs (SG), dated the 30th July, 2018, safeguard duty has been imposed on Solar cells whether or not assembled in modules or panels falling under sub­heading 8541 or tariff item 8541 40 11 of the Customs Tariff Act, 1975 at specified rates for a period of two years....

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Recent Posts in "Custom Duty"

Customs (Finalisation of Provisional Assessment) Regulations, 2018

Notification No. 73/2018-Customs (N.T.) (14/08/2018)

CBIC notifies vide Notification No. 73/2018-Customs (N.T.) dated 14th August, 2018 Customs (Finalisation of Provisional Assessment) Regulations, 2018...

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Exchange Rates Notification No. 72/2018-Custom(N.T.) Dated 14.08.2018

Notification No. 72/2018-Customs (N.T.) (14/08/2018)

Customs Rate of Exchange of Foreign Currency Conversion wef 1508.2018 notified vide Notification No. 72/2018 – Customs (N.T.) dated 14th August, 2018...

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Tariff Notification No. 71/2018-Customs (N.T.) dated 14th August, 2018

Notification No. 71/2018-Customs (N.T.) (14/08/2018)

Tariff Notification No. 71/2018-CUSTOMS (N.T.) dated 14th August, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg...

Read More

Clarification regarding bank guarantee requirement for bond executed by EOUs

Various representations have been received regarding difficulties faced by EOUs with respect to requirements of bank guarantees in view of Circular no. 48/2017-Customs dated 08.12.2017 issued by CBIC. The matter has been examined....

Read More

Benefit of Exemption Notification- Reference Answered by Supreme Court

What is the interpretative rule to be applied while interpreting a tax exemption reportable provision/notification when there is an ambiguity as to its applicability with reference to the entitlement of the assessee or the rate of tax to be applied?...

Read More

Safeguard duty on Solar cells whether or not assembled in modules or panels

Instruction No. 12/2018-Customs (13/08/2018)

Vide notification No. 1/2018-Customs (SG), dated the 30th July, 2018, safeguard duty has been imposed on Solar cells whether or not assembled in modules or panels falling under sub­heading 8541 or tariff item 8541 40 11 of the Customs Tariff Act, 1975 at specified rates for a period of two years....

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Notification No. 15/2018-Customs (N.T./CAA/DRI), Dated: 10.08.2018

Notification No. 15/2018-Customs (N.T./CAA/DRI) (10/08/2018)

Notification No. 15/2018-Customs (N.T./CAA/DRI) Director General, Revenue Intelligence, hereby appoints officers mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in column (4) of the said Table in respect of notic...

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Notification No. 14/2018-Customs (N.T./CAA/DRI), Dated: 10.08.2018

Notification No. 14/2018-Customs (N.T./CAA/DRI) (10/08/2018)

Notification No. 14/2018-Customs (N.T./CAA/DRI) Director General, Revenue Intelligence, hereby appoints officers mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in column (4) of the said Table in respect of noti...

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Simplification & rationalization of processing of AEO-T1 application

Circular No. 26/2018-Customs (10/08/2018)

Reference is drawn to the Circular 33/2016- Customs dated 22.7.2016 as amended. The Indian AEO Programme is governed by this circular. Multiple suggestions have been received from various field formations, wherein it has been emphasised that the compliance requirements for AEO T1 are not commensurate with the benefits allowed to AEO T1 en...

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CBI arrests 19, including customs officials for bribery & smuggling

The Central Bureau of Investigation has arrested 19 accused (6 Customs official & 13 private persons) including an Assistant Commissioner, Superintendents, Inspectors, private persons(including Sri Lankan Nationals) in a case related to alleged bribery and smuggling of goods....

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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.