Custom Duty

Customs – Self-Sealing Latest Developments

The Central Board of Excise and Customs (CBEC), last Monday issued a circular (In continuation of Circular No. 26/2017 dated 01.07.2017) regarding Implementation of Electronic Sealing of Containers by Exporters w.e.f. 1st October 2017....

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Customs – Provisional Release of Seized Imported Goods Latest Guidelines

The Central Board of Excise & Customs (CBEC), vide Circular No. 35/2017 – Customs, dated 16th August 2017 issued guidelines for provisional release of seized imported goods pending adjudication under Section 110 of the Customs Act, 1962 Section 110A  Any goods, documents or things seized under Section 110, may, pending the order of...

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Tax Incidence – High Sea Sales of Imported Goods – GST

As provided in GST Laws, all inter-state transactions are subject to IGST. Further, High sea sales of imported goods are akin to inter-state transactions. ...

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Amendment by Taxation Laws (Amendment Act)

A new Section 108A and 108B inserted which cast responsibility on Banking Company, Stock Exchange, Financial Institution, Register, Co Operative Bank etc to Furnish information to Proper Officer. Penalty Rs 100 per day will be imposed in case of failure to Furnish Information....

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Positive Impact of Export Facilitation Measures on Exports

Latest data suggests signs of recovery of Indias exports. December 2016 is the continuous 4th month when merchandise exports registered positive growth. Despite weak global demand, India’s overall Trade figures also look good, helped by the strong net foreign exchange earnings from the IT-led Services Export Sector....

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Draft Customs Brokers Licensing and Revocation Regulations, 2017

CBEC released on 19th August 2017- Draft Customs Brokers Licensing and Revocation Regulations, 2017 which will be apply on approval to shall apply to a Customs Broker who has been licensed under these regulations or regulations preceding thereto and also such other persons who have been employed or engaged by the said Customs Broker unde...

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ROSL Scroll generation has been activated

Temporary ROSL Scroll of smaller amounts (10-15 Cr.) to be generated, so that rejections, if any, does not affect major number of SBs / Exporters. One Scroll may be generated for every week starting after last ROSL scroll generation date, latest till May 2017. Drawback Officers to be directed to complete the entire process for a week's fi...

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Govt imposes 10% BCD on mobile phone and specified parts

With effect from 01.07.2017 Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods....

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Draft Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2017

Stakeholder consultation/comments are invited on Draft Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2017 for electronic clearances along with proposed electronic forms, namely,new Form Courier Bill of Entry-XII (CBE-XII), new Form Courier Bill of Entry-XIII (CBE-XIII), new Form Courier Bill of Entry-XIV...

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Draft Bill of Entry (Forms) Amendment Regulations, 2017.

Stakeholder consultation/comments are invited on draft notification for amendment to Bill of Entry(Forms) Regulations, 1976 for Non-EDI locations or for Manual clearance along with New Form I, New Form II & New Form III for manual Bill of Entry incorporating provisions for IGST....

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Mandatory Pre-Deposit U/s. 129E of Customs Act is Constitutionally Valid: Bombay HC

Haresh Nagindas Vora Vs Union Of India (Bombay High Court) - The Bombay High Court has upheld the constitutional validity of Section 129 E of the Indian Customs Act, 1962, that makes pre- deposit mandatory for filing an appeal before the tribunal or the Commissioner (Appeals) concerned....

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Order Continuing Anti-Dumping duty made After Expiry of Duty Period is Invalid: SC

Union of India and Another Vs M/s. Kumho Petrochemicals Company Limited and Another (Supreme Court of India) - Before the High court, the petitioners, M/S. Kumho Petrochemicals Company Limited And Another, made two submissions. Firstly, the order of continuation of anti-dumping duty, made after expiry of the duty period, is bad in law. Secondly, the initiation of the anti-dumping duty investigation was also ...

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Redemption fine of 10% & penalty of 5% of value of goods is sufficient punishment to importer

Sai International Vs Shri S.S Garg (CESTAT Bangalore) - Issue of imposition of redemption fine and penalty has been settled and now various Benches of the Tribunal have consistently held that the redemption fine of 10% of the value of the goods and penalty of 5% of the value of the goods is sufficient punishment to the importer. Therefore, following the ...

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Assessee not allowed to appear with Counsel to Record Statement U/s. 108 of Customs Act

Pawan Kumar Pawan Arora Vs Union of India (Allahabad High Court) - In view of law laid down by Apex Court in case of Poolpandi & Others v. Superintendent, Central Excise & Others, presence of counsel refusal during interrogation/recording the statement of a person under Customs Act would not be violative of Article 20 (3) and 21 of Constitution of India....

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Custodian of Goods cannot deny his liability for export of Illicit Goods

M/s. Sanco Trans Ltd Vs The Customs, Excise and Service Tax Appellate Tribunal (Madras High Court) - This Civil Miscellaneous Appeal is filed by the assessee challenging an order of the Customs Excise and Service Tax Appellate Tribunal dated 15.6.2015 confirming imposition of penalty under section 114 of the Customs Act (in short Act) though reducing the quantum from Rs.5 lakhs to Rs.2.5 lakhs....

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Notification No. 87/2017- Customs (N.T.) Dated: 15.09.2017

Notification No. 87/2017- Customs (N.T.) - (15/09/2017) - Notification No. 87/2017- CUSTOMS (N.T.) Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver ...

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Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18

Notification No. 76/2017- Customs - (15/09/2017) - G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Min...

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Notification No. 86/2017- Customs (N.T.) Dated: 14.09.2017

Notification No. 86/2017- Customs (N.T.) - (14/09/2017) - Notification No. 86/2017- Customs (N.T.)- Amendment to notification no 82/2017-Cus (N.T.) dt 24.08.2017 and notification no 85/2017-Cus (N.T.) dt 07.09.2017...

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Seeks to exempt goods imported for organizing FIFA under 17, world cup, 2017

Notification No. 75/2017-Customs - (13/09/2017) - G.S.R. __ (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (2) of the Tabl...

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Anti-dumping duty concerning imports of “Ammonium Nitrate”

Notification No. 44 /2017-Customs (ADD) - (12/09/2017) - NOTIFICATION No. 44 /2017-Customs (ADD)- Seeks to impose anti-dumping duty concerning imports of Ammonium Nitrate originating in exported from Russia, Indonesia, Georgia and Iran...

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Recent Posts in "Custom Duty"

Notification No. 87/2017- Customs (N.T.) Dated: 15.09.2017

Notification No. 87/2017- Customs (N.T.) (15/09/2017)

Notification No. 87/2017- CUSTOMS (N.T.) Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver ...

Read More

Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18

Notification No. 76/2017- Customs (15/09/2017)

G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of Revenue)...

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Notification No. 86/2017- Customs (N.T.) Dated: 14.09.2017

Notification No. 86/2017- Customs (N.T.) (14/09/2017)

Notification No. 86/2017- Customs (N.T.)- Amendment to notification no 82/2017-Cus (N.T.) dt 24.08.2017 and notification no 85/2017-Cus (N.T.) dt 07.09.2017...

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Seeks to exempt goods imported for organizing FIFA under 17, world cup, 2017

Notification No. 75/2017-Customs (13/09/2017)

G.S.R. __ (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (2) of the Table below and falling under the First Sche...

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Anti-dumping duty concerning imports of “Ammonium Nitrate”

Notification No. 44 /2017-Customs (ADD) (12/09/2017)

NOTIFICATION No. 44 /2017-Customs (ADD)- Seeks to impose anti-dumping duty concerning imports of Ammonium Nitrate originating in exported from Russia, Indonesia, Georgia and Iran...

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Rate of exchange of conversion of foreign currency WEF 08.09.2017

Notification No. 84/2017-Customs (N.T.) (07/09/2017)

Customs Notification No. 84/2017 - Dated: 7-9-2017 - Cus (NT)- Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017...

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Defining jurisdiction of customs officers for the purpose of audit

Notification No. 85/2017-Customs (N.T.) (07/09/2017)

CBEC hereby appoints the officers mentioned in column (2) of the Table below to be the Principal Chief Commissioners of Customs or Chief Commissioners of Customs, for the areas of jurisdiction falling within the jurisdiction of the Commissioner of Customs( Audit)...

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Definitive CVD on import of Hot / Cold Rolled Stainless Steel Flat Products

Notification No. 1/2017-Customs (CVD) (07/09/2017)

Seeks to impose definitive Countervailing duty on the imports of Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products originating in or exported from China PR - 1/2017-Customs(CVD) - Anti Dumping Duty...

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CBEC reduces BCD on raw sugar upto a quantity of 3 lakh MT from 50% to 25%

Notification No. 74/2017-Customs (07/09/2017)

Seeks to further amend notification No.50/2017-Customs dated the 30th June, 2017, so as to reduce the BCD on raw sugar[1701] upto a quantity of 3 lakh MT from 50% to 25% subject to the Tariff Rate Quota Allocation Certificate or license, as the case may be, issued by DGFT ...

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Customs – Self-Sealing Latest Developments

The Central Board of Excise and Customs (CBEC), last Monday issued a circular (In continuation of Circular No. 26/2017 dated 01.07.2017) regarding Implementation of Electronic Sealing of Containers by Exporters w.e.f. 1st October 2017....

Read More
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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.