Custom Duty

Decoding India’s Trade Agreements – Part –1

In the recent years, the world is witnessing a rapid proliferation of Free Trade Agreements (FTAs). The world trading system has witnessed an increasing number of integration initiatives in recent years on the back of comparative advantages. For India too it became necessary to be integrated into the global trade to attain its economic gr...

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IMO 2020 Carriage Ban Comes into Effect

The International Maritime Organization is an agency tasked with improving the security and safety of international shipping. One of its key duties is to devise strategies and measures to keep the waterways clean by preventing marine pollution from ships. International Maritime Organization (IMO) is an agency of the United Nations which ...

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Fable of tumbling Indian SEZ

This explains the whole anatomy of the declining interests of exporters in investing in Special Economic Zone (SEZ).  Let's have a glimpse on the current situation of SEZ....

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Negetive List of Duty Drawback (Section-76) under Custom Act,1962

Section 76 of the Customs Act, 1962 contains the provisions in respect of prohibition and regulation of drawback and no drawback shall be allowed in the following circumstances: (a) In respect of any goods, the market price of which is less than the amount of drawback due thereon, (b) If the Central Government is of […]...

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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....

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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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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...

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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....

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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/...

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Necessity of investigation for system failure on mis-declaration of POS, MPOS devices and evasion of customs duty

Shri Chinta Haran Ojha Vs Principal Commissioner of Customs (CESTAT Delhi) - Chief Commissioner of Customs was directed to consider whether it should be necessary to cause a vigilance enquiry on the system failure to determine how the consignments were cleared when there were so many mis-declaration in description as well as classification of the imported Point of Sale Devic...

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Co-noticees also liable for section 112B penalty with main noticee for custom duty evasion

A. V. Agro Products Ltd. Vs Commissioner of Customs (CESTAT Delhi) - Since there was a clear nexus between the appellant -company and all the co-noticees for the alleged violation of the impugned notification which extended the concessional rate of customs duty of 20% ad valorem provided the imported CPO was meant for use in manufacture of soap, therefore, penalty wa...

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No denial of drawback claim though processing was carried out at 100% EOU

GTN Textiles Limited Vs Secretary to Government (Madras High Court) - Claim of drawback of excise and customs duties paid on the raw materials used in manufacturing could not be denied merely because some processes in the chain of manufacturing had been conducted in the premise of EOU/unit of EPZ, if the assessee was otherwise entitled to the benefit....

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Separate notice not required for personal hearing post section 110(2) amendment

Shreyansh Marble Tiles Pvt Ltd. Vs Commissioner of Customs (CESTAT Ahmedabad) - After amendment of section 110(2) it was concluded that no separate notice was necessary, before extending the period of limitation by a further six months (for issuance of show cause notice); the authority had to record reasons in writing, which of course, should be based on materials and inform th...

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Penalty justified for evading customs duty by wrongly availing benefits

Bird Retail Pvt. Ltd. Vs Commissioner of Customs (Import) (CESTAT Delhi) - Adjudicating Authority was right in in imposing a penalty under the provision of Section 114A and Section 114AA of the Customs Act, 1962 as  both the appellants were fully aware that M/s B Pvt. Ltd. was importing complete Segway electrically operated product in CKD condition by mis-declaring the s...

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Customs Measure to facilitate trade during lockdown period

Circular No. 17/2020-Customs - (03/04/2020) - CBIC has decided to take certain measures for a temporary period in terms of section 143AA of the Customs Act, 1962 with a view to expedite Customs clearance of goods and for maintaining balance between Customs control and facilitation of legitimate trade....

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CBIC staff needs to be vigilant to thwart potential vulnerabilities in international supply chain

D.O.No.08/01(IC)/2020  - (30/03/2020) - While making every possible effort to facilitate legitimate trade, our frontline officers and staff need to be vigilant to thwart potential vulnerabilities in the international supply chain for illicit trade including counterfeit medicines, personal protective equipment and related items. as well as...

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CBIC notifies Rate of Exchange of Foreign Currencies wef 02.04.2020

Notification No. 37/2020-Customs (N.T.) - (01/04/2020) - CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 28.03.2020 vide Notification No. 37/2020-Customs (N.T.), Dated: 1st April, 2020. Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) ***** Notification No. 37/2020 ...

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Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020

Notification No. 36/2020-Customs (N.T.) / S.O. 1234(E). - (31/03/2020) - Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No...

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Exemption from IGST & Compensation Cess upto 31.03.2021 on imported against AA/EPCG

Notification No. 18/2020-Customs [G.S.R. 227 (E).] - (30/03/2020) - CBIC extends the exemption from Integrated Tax and Compensation Cess upto 31.03.2021 on goods imported against AA/EPCG authorizations vide Notification No. 18/2020-Customs dated 30th March, 2020....

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Recent Posts in "Custom Duty"

Customs Measure to facilitate trade during lockdown period

Circular No. 17/2020-Customs (03/04/2020)

CBIC has decided to take certain measures for a temporary period in terms of section 143AA of the Customs Act, 1962 with a view to expedite Customs clearance of goods and for maintaining balance between Customs control and facilitation of legitimate trade....

Read More

CBIC staff needs to be vigilant to thwart potential vulnerabilities in international supply chain

D.O.No.08/01(IC)/2020  (30/03/2020)

While making every possible effort to facilitate legitimate trade, our frontline officers and staff need to be vigilant to thwart potential vulnerabilities in the international supply chain for illicit trade including counterfeit medicines, personal protective equipment and related items. as well as other transnational financial crimes....

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CBIC notifies Rate of Exchange of Foreign Currencies wef 02.04.2020

Notification No. 37/2020-Customs (N.T.) (01/04/2020)

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 28.03.2020 vide Notification No. 37/2020-Customs (N.T.), Dated: 1st April, 2020. Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) ***** Notification No. 37/2020 – Customs (N.T.) New Delhi, dated ...

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Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020

Notification No. 36/2020-Customs (N.T.) / S.O. 1234(E). (31/03/2020)

Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 36/2020-CUSTOMS (N.T.) New Delhi, 31st...

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Exemption from IGST & Compensation Cess upto 31.03.2021 on imported against AA/EPCG

Notification No. 18/2020-Customs [G.S.R. 227 (E).] (30/03/2020)

CBIC extends the exemption from Integrated Tax and Compensation Cess upto 31.03.2021 on goods imported against AA/EPCG authorizations vide Notification No. 18/2020-Customs dated 30th March, 2020....

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Customs Rate of Australian Dollar WEF 31st March, 2020

Notification No. 35/2020-Customs (N.T.) (30/03/2020)

CBIC notifies Customs Rate of Australian Dollar with effect from 31st March, 2020 vide Notification No. 35/2020-Customs (N.T.) dated 30th March 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 35/2020-Customs (N.T.) New Delhi, dated the 30th March, 2...

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CBIC notifies Rate of Exchange of Foreign Currencies wef 28.03.2020

Notification No. 34/2020-Customs (N.T.) (27/03/2020)

CBIC notifies Rate of Exchange of Norwegian Kroner and  Pound Sterling against India Rupees wef 28.03.2020 vide Notification No. 34/2020-Customs (N.T.), Dated: 27.03.2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 34/2020-Customs (N.T.) New Delhi, d...

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Necessity of investigation for system failure on mis-declaration of POS, MPOS devices and evasion of customs duty

Shri Chinta Haran Ojha Vs Principal Commissioner of Customs (CESTAT Delhi)

Chief Commissioner of Customs was directed to consider whether it should be necessary to cause a vigilance enquiry on the system failure to determine how the consignments were cleared when there were so many mis-declaration in description as well as classification of the imported Point of Sale Devices (POS) and Mobile Point of Sale Device...

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Tariff Notification No. 33/2020-Customs (N.T.), Dated: 26.03.2020

Notification No. 33/2020-Customs (N.T.) [S.O. 1221(E).] (26/03/2020)

Tariff Notification No. 33/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 33/2020-CUSTOMS (N.T.) New Delhi, 26th March, 2020 6 ...

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Customs Exchange Rate of Korean Won wef 27th March, 2020

Notification No. 32/2020 - Customs (N.T.) (26/03/2020)

Exchange Rates Notification No.32/2020-Custom (NT) dated 26.03.2020- notifying Customs Exchange Rate of Korean Won wef 27th March, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 32/2020 – Customs (N.T.) New Delhi, dated the 26th March, 2020 6...

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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.