Custom Duty

Budget 2018 – Proposed Changes in Customs Law

Changes in Budget ♠ 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 Budgetary Changes Customs Duty Rates Customs Tariff: Notification No. 6/2018-Custo...

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Budget 2019: Exhaustive analysis of amendments in Customs Act 1962

Article contains Clause wise Amendments in the Customs Act, 1962 vide Finance (No.2) Bill, 2019 and Other Proposals Involving Changes In Basic Customs Duty Rates,  Clarificatory Amendments In Respective Rate Notifications, Effective change in rate of Road and Infrastructure Cess on Petrol and Diesel, Amendment In The Sixth Schedule To F...

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Budget 2019 Amends Customs Tariff Act, 1975 & First Schedule

Section 9 is being amended so as to insert sub-section (1A) to provide for anti-circumvention measure in respect of countervailing duty. (Clause 85). Section 9C is being amended so as to provide that appeal against an order of determination or review regarding the existence, degree and effect of increased volume of imports of any article ...

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Proposed Amendment in Customs Act, 1962 & Service Tax

Proposed Amendment in the Customs Act, 1962 and Service Tax – Union Budget 2019 The legislative changes would come into effect only upon the enactment of the Finance (No. 2) Bill, 2019. Proposed Amendment in the Customs Act, 1962 Current provisions Proposed provisions Effect Section – 41 (Delivery of departure manifest or export m...

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Highlights of Budget 2019- Direct and Indirect Tax

Income Tax Highlights of Budget 2019 1. No change in Income Tax in case of income up to Rs 2 crores. 2. Income Tax return can be filed using either Aadhar Number or PAN No. 3. Surcharge – √ Taxable income from Rs 2 crore to Rs 5 crore- Surcharge has been increased from 15% […]...

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Govt compulsorily retires 15 Senior Officers of Custom & Excise

Government of India compulsorily retires 15 Senior Officers of the Indian Revenue Service (C &CE) with immediate effect  In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of India has retired 15 officers of Indian Revenue Service (IRS)(C&CE) in public interest with immediate effe...

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CBI Arrests Preventive Officer of Customs in an On-Going Investigation of A DA Case

Central Bureau of Investigation CBI Arrests Preventive Officer of Customs in an On-Going Investigation of A Disproportionate Assets Case, and Recovers Rs.1,18,50,000/- The Central Bureau of Investigation has arrested a Preventive Officer of Customs, Goa in an on-going investigation of disproportionate assets case. His father (private pers...

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Customs Brokers’ Examination- Guidelines For Candidates

Customs Brokers’ Examination GUIDELINES FOR THE CANDIDATES (Please refer Regulation 6 of Customs Brokers Licensing Regulations, 2018) A. Admit Card and Mock Test: A dummy Question paper for the purpose of awareness of candidates will be made available on the CBIC and NACIN websites under the icon/tab <GSTP/CBLR Exam>. A link to do...

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Computer based Examination under Customs Brokers Licensing Regulations

Computer based Examination under Regulation 6 of the Customs Brokers Licensing Regulations, 2018 (As Amended); The Examination to be conducted on 15th March, 2019 at designated Examination Centers across India...

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Rationalization of customs duty & procedures to boost Make in India initiative 

Rationalization of customs duty and procedures to give boost to ‘Make in India’ initiative  RFID technology to be used to improve export logistics  The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parli...

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Non-compliance with Section 50 of the NDPS Act, 1985

Sikodh Mahto Vs. State (Delhi High Court) - The Hon­­'ble High Court of Delhi vide Judgment dated 6th June, 2019 passed in Crl. A. No.660/2017 titled Sikodh Mahto vs. State and in  Crl No.698/2017 titled Prabhu  Mahto vs. State while quashing the order passed by Ld. Additional Sessions Judge, acquitted the appellants in case involving a...

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Govt can retain excess auction sale proceeds of confiscated goods: SC

Gillette India Ltd. Vs Commissioner of Customs & Ors. (Delhi High Court) - Under Sections 125 read with Section 126 of the Customs Act, 1962 where the redemption fine in lieu of confiscation is not paid within the time stipulated, the Central Government is entitled to retain the excess auction sale proceeds of the confiscated goods, after adjustment of the duty, penalty, i...

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Recovery of interest without issuance of notice is bad in law: CESTAT Mumbai

M/s. Ansar & Co. Vs Commissioner of Customs (Imp-II) (CESTAT Mumbai) - The assessee should have been put to Notice and a reasonable opportunity should have been given for representing their case. While the same was not done, jumping straight way to coercive measures was certainly uncalled for. Therefore, Interest collected being without authority of Law needs to be ref...

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Arrest by DGCEI without SCN is Unconstitutional: SC

Union of India & Ors. Vs Ms. Make My Trip (India) Pvt. Ltd. (Supreme Court) - Union of India & Ors. Vs Ms. Make My Trip (India) Pvt. Ltd. (Supreme Court) The issue is as to whether the power of arrest under Section 91 of the Finance Act, 1994 can be exercised without following the procedure as set out in Section 73A(3) and (4) of the said Act. The High Court […]...

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CESTAT upheld Order sanctioning refund after rectifying clerical mistakes in shipping bills

Commissioner of Central Excise, Customs & Service Tax Vs M/s Mideast Integrated Steels Ltd. (CESTAT Hyderabad) - Order sanctioning refund by the first appellate authority (FAA) was upheld after rectifying the clerical/ arithmetical mistakes in the shipping bills....

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Tariff Notification No. 61/2019-Customs (N.T.) Dated 14.08.2019

Notification No. 61/2019-Customs (N.T.) [S.O. 2946(E)] - (14/08/2019) - Custom Tariff Notification No. 61/2019-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 61/2019-CUS...

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CBIC notifies Rate of Exchange of Foreign Currencies wef 15.08.2019

Notification No. 60/2019 - Customs (N.T.) - (14/08/2019) - Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 15th August, 2019 notified vide Notification No. 560/2019–Customs (N.T.) dated 114th August, 2019....

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Notification No. 36/2019-Customs (N.T./CAA/DRI) Dated: 08.08.2019

Notification No. 36/2019-Customs (N.T./CAA/DRI) [S.O. 2928(E)] - (08/08/2019) - NOTIFICATION No. 36/2019-Customs (N.T./CAA/DRI) Principal Director General, Revenue Intelligence, hereby appoints officer 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...

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Recovery of export benefits given under Incentive /Reward Schemes

Instruction No. 03/2019-Customs - (13/08/2019) - Issue regarding recovery of export benefits given under incentive and reward schemes under Chapter 3 of Foreign Trade Policy (FTP) on re-import of exported goods has been highlighted by C&AG of India. In its observations, Audit has inter-alia pointed out that there was no provision in the Customs no...

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Amendment in Exchange Rate of Swiss Franc for imported and export goods notified

Notification No.59/2019 - Customs (N.T.) - (13/08/2019) - Amendment in Exchange Rate of Swiss Franc for imported and export goods notified vide Exchange Rates Notification No.59/2019-Custom(NT), Dated 13.08.2019 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No.59/2019 – Cust...

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Recent Posts in "Custom Duty"

Tariff Notification No. 61/2019-Customs (N.T.) Dated 14.08.2019

Notification No. 61/2019-Customs (N.T.) [S.O. 2946(E)] (14/08/2019)

Custom Tariff Notification No. 61/2019-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 61/2019-CUSTOMS (N.T.) New Delhi, 14th August, 2019...

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CBIC notifies Rate of Exchange of Foreign Currencies wef 15.08.2019

Notification No. 60/2019 - Customs (N.T.) (14/08/2019)

Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 15th August, 2019 notified vide Notification No. 560/2019–Customs (N.T.) dated 114th August, 2019....

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Notification No. 36/2019-Customs (N.T./CAA/DRI) Dated: 08.08.2019

Notification No. 36/2019-Customs (N.T./CAA/DRI) [S.O. 2928(E)] (08/08/2019)

NOTIFICATION No. 36/2019-Customs (N.T./CAA/DRI) Principal Director General, Revenue Intelligence, hereby appoints officer 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...

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Recovery of export benefits given under Incentive /Reward Schemes

Instruction No. 03/2019-Customs (13/08/2019)

Issue regarding recovery of export benefits given under incentive and reward schemes under Chapter 3 of Foreign Trade Policy (FTP) on re-import of exported goods has been highlighted by C&AG of India. In its observations, Audit has inter-alia pointed out that there was no provision in the Customs notification to recover the duty credit gi...

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Amendment in Exchange Rate of Swiss Franc for imported and export goods notified

Notification No.59/2019 - Customs (N.T.) (13/08/2019)

Amendment in Exchange Rate of Swiss Franc for imported and export goods notified vide Exchange Rates Notification No.59/2019-Custom(NT), Dated 13.08.2019 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No.59/2019 – Customs (N.T.) Dated the 13th August, 2019 2...

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Anti-dumping duty on imports of Homopolymer of vinyl chloride monomer (suspension grade)

Notification No. 32/2019-Customs (ADD) (10/08/2019)

Seeks to impose anti-dumping duty on imports of ‘Homopolymer of vinyl chloride monomer (suspension grade)’ originating in or exported from China PR and USA for 30 months with effect from 13th August, 2019, in pursuance of SSR investigation by DGTR vide  Notification No. 32/2019-Customs (ADD) Dated 10th August, 2019. MINISTRY ...

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Budget 2018 – Proposed Changes in Customs Law

Changes in Budget ♠ 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 Budgetary Changes Customs Duty Rates Customs Tariff: Notification No. 6/2018-Custo...

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Posted Under: Custom Duty |

Applicability of AIRs to calculate Brand Rate of duty drawback in GST regime

Circular No. 24/2019-Customs (08/08/2019)

Clarification regarding applicability of All Industry Rates of duty drawback while fixing Brand Rate of duty drawback in post GST era. Circular No. 24/2019-Customs...

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Administrative changes in jurisdiction of Chief Commissioner Customs Zone II Mumbai.

Notification No. 58/2019-Customs (N.T.) (08/08/2019)

Notification No. 58/2019-Customs (N.T.) - Administrative changes in the jurisdiction of Chief Commissioner Customs Zone II Mumbai....

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Tariff Notification No. 57/2019-Customs (N.T.), Dated: 08.08.2019

Notification No. 57/2019-Customs (N.T.) (08/08/2019)

Tariff Notification No. 57/2019-Customs (N.T.), Dated: 08.08.2019 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 57/2019-CUSTOMS (N.T.) New Delhi, 8th...

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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.