Custom Duty

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

With the enactment of the Finance Act, 2018, CBEC is renamed as the Central Board of Indirect Taxes and Customs (CBIC). The change was necessitated due to enactment of the Goods and Services Tax (GST) which has consolidated the multiple Indirect Taxes into one tax....

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Custom Department Appraiser and Wife Convicted in DA Case

The Special Judge, CBI cases, Chennai has sentenced Shri D.Ramani, then Appraiser, Air Customs Department, Chennai to undergo two years Rigorous Imprisonment in a disproportionate assets case. His wife Smt. R. Vijayalakshmi and other person Sh. Adikesavulu were sentenced to undergo one year RI. A total fine of Rs. 2 lakh was imposed on th...

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Power Banks not eligible for benefits under N/No. 12/2012-Customs

CCE Vs S.B. Industries (CESTAT Delhi) - The present appeal has been filled by the Revenue against the Order-in-Appeal No.204/GST/DL-Appl-II/17/ vide which the Commissioner (A) has set aside the order of adjudicating authority....

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CESTAT should not exercise its discretionary power in whimsical and arbitrary manner

Vaish Brother Through Partner Vs Commissioner of Customs (Delhi High Court) - Whether the Customs, Excise and Service Tax Appellate Tribunal (Tribunal) was right in exercising discretion and in refusing to admit the appeal preferred by the appellant in exercise of discretion vested under proviso (iii) to sub­section (1) of Section 129A of Customs Act, 1952 (Act, for short)?...

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SAD refund cannot be rejected for mere non-production of Original Documents

M/s. Wipro Ltd. Vs Commissioner of Customs (CESTAT Chennai) - The original authority rejected the refund claim on the ground that only photocopies of the Bills of Entry, TR6 challans and sales invoices were produced by the appellant. Thus, for want of production of original documents, refund claim was rejected, which was later upheld by Commissioner (Appeals)....

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No Penalty on CHA for Unknowingly attempting to clear prohibited goods

Daroowala Bros & Co. Vs Commissioner of Customs (Gen.) (CESTAT Mumbai) - These appeals are directed against Order-in-original passed by the Commissioner of Customs, New Custom House, whereby Ld. Commissioner imposed penalty of Rs. 2 lacs under Section 114(i) of Customs Act, 1962 on CHA, M/s. Daroowala Brothers and Company and also imposed penalty of Rs. 1.5 lacs on Shri....

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Suo Motu Rectification of order passed u/s 245D(4) on debatable issue by Settlement Commission not valid

The Commissioner of Income Tax Vs. Income Tax Settlement Commission & Another (Bombay High Court) - This Petition under Article 226 of the Constitution of India, challenges an order dated 2nd December, 2016 passed by the Settlement Commission (Commission) under Section 245 D(6B) of the Income Tax Act, 1961 (the Act)....

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Tariff Notification No. 53/2018-Customs (N.T.) Dated: 14th June, 2018

Notification No. 53/2018-Customs (N.T.) - (14/06/2018) - Tariff Notification No. 53/2018-Customs (N.T.) Dated: 14th June, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver ...

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CBIC notifies Karanja Terminal u/s 7(a) of Customs Act, 1962

Notification No. 52/2018- Customs (N.T.) - (13/06/2018) - Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Karanja Terminal u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods. ...

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Increase in Custom duty on crude / Refined edible vegetable oils

Notification No. 47/2018-Customs - (14/06/2018) - Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017 so as to increase basic customs duty (BCD) to 35% on crude edible vegetable oils and to 45% on refined edible vegetable oils with effect from 14th June 2018. ...

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Anti-Dumping investigation on imports of Saccharin from Indonesia

F. No. 6/13/2018 - (14/06/2018) - Initiation of Anti-Dumping investigation concerning imports of Saccharin originating in or exported from Indonesia. Saccharin is a non-nutritive sweetener and considered to be low calorie substitute for cane sugar. Primarily there are two types of Saccharin i.e. soluble and insoluble. ...

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CBIC notifies Custom officers for adjudging confiscation or penalty

Notification No. 50/2018-Customs (N.T.) - (08/06/2018) - Notification No. 50/2018-Customs (N.T.) CBIC hereby confers power, for purposes of adjudging confiscation or penalty, on Customs Officer as mentioned in column (2) of the Table below, in terms of value limit as specified in column (3) of the said Table, in relation to goods which are liable to conf...

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Recent Posts in "Custom Duty"

Tariff Notification No. 53/2018-Customs (N.T.) Dated: 14th June, 2018

Notification No. 53/2018-Customs (N.T.) (14/06/2018)

Tariff Notification No. 53/2018-Customs (N.T.) Dated: 14th June, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver ...

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CBIC notifies Karanja Terminal u/s 7(a) of Customs Act, 1962

Notification No. 52/2018- Customs (N.T.) (13/06/2018)

Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Karanja Terminal u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods. ...

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Increase in Custom duty on crude / Refined edible vegetable oils

Notification No. 47/2018-Customs (14/06/2018)

Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017 so as to increase basic customs duty (BCD) to 35% on crude edible vegetable oils and to 45% on refined edible vegetable oils with effect from 14th June 2018. ...

Read More

Anti-Dumping investigation on imports of Saccharin from Indonesia

F. No. 6/13/2018 (14/06/2018)

Initiation of Anti-Dumping investigation concerning imports of Saccharin originating in or exported from Indonesia. Saccharin is a non-nutritive sweetener and considered to be low calorie substitute for cane sugar. Primarily there are two types of Saccharin i.e. soluble and insoluble. ...

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Power Banks not eligible for benefits under N/No. 12/2012-Customs

CCE Vs S.B. Industries (CESTAT Delhi)

The present appeal has been filled by the Revenue against the Order-in-Appeal No.204/GST/DL-Appl-II/17/ vide which the Commissioner (A) has set aside the order of adjudicating authority....

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CBIC notifies Custom officers for adjudging confiscation or penalty

Notification No. 50/2018-Customs (N.T.) (08/06/2018)

Notification No. 50/2018-Customs (N.T.) CBIC hereby confers power, for purposes of adjudging confiscation or penalty, on Customs Officer as mentioned in column (2) of the Table below, in terms of value limit as specified in column (3) of the said Table, in relation to goods which are liable to confiscation under Chapter XIV of the said A...

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Monetary limits for adjudication by Custom officers in cases liable to confiscation

Circular No. 16/2018-Customs (08/06/2018)

In order to improve the disposal rate in deciding cases falling under Chapter XIV, it has been decided that for cases where value of the goods liable for confiscation is above 10 lakhs, the adjudication powers shall be exercised as under:...

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Notification under Section 7 notifying Surat airport as Customs airport

Notification No. 51/2018-Customs (N.T.) (08/06/2018)

Notification No. 51/2018-Customs (N.T.) Dated- 8th June, 2018- under Section 7 of the Customs Act, 1962 notifying Surat airport as Customs airport for Unloading of baggage and the loading of baggage...

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Customs Rate of Exchange of Foreign Currency Conversion wef 08.06.2018

Notification No. 49/2018-Customs (N.T.) (07/06/2018)

Customs Rate of Exchange of Conversion Foreign Currencies wef 08.06.2018 notified vide Notification No. 49/2018-Customs (N.T.) dated: 7th June, 2018...

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Notification No. 7/2018-Customs (N.T./CAA/DRI), Dated: 06.06.2018

Notification No. 7/2018-Customs (N.T./CAA/DRI) (06/06/2018)

Notification No. 7/2018-Customs (N.T./CAA/DRI) Director General, Revenue Intelligence, hereby makes the following amendment in the Notification No. 1/2018-Customs (N.T./CAA/DRI) dated 23th February 2018 published vide S.O. 789(E) dated 23.02.2018....

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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.