Custom Duty - Page 10

Seeks to grant Exemption to re-import of unclaimed postal articles

Notification No. 31/2017–Customs (30/06/2017)

Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts, the contents of postal articles, which having originally been posted in India and not having left the custody of the post office at any time since their original posting, are imported into India on return to the post offices in India ...

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Seeks to grant Exemption to motion pictures, music, gaming software

Notification No. 30/2017–Customs (30/06/2017)

Government exempts motion pictures, music, gaming software for use on gaming consoles printed or recorded on media falling under headings 3706 or 8523 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much of the duty of customs as leviable thereon which is specified in the said First Sc...

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Seeks to grant Exemption to Specimen, models, wall pictures and diagrams received as gifts

Notification No. 29/2017–Customs (30/06/2017)

Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts Specimen, models, wall pictures and Diagrams for instructional purposes, falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from the whole of the duty of customs leviable thereon w...

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Seeks to grant Rescinds the Notification No. 151/1982 – Customs, dated the 14th May 1982

Notification No. 28/2017-Customs (30/06/2017)

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 rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue)...

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Seeks to Rescind Notification No. 171/1993- Customs, dated 16th September 1993

Notification No. 27/2017–Customs (30/06/2017)

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 rescinds the notification of the Government of India in the Ministry of Finance...

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Anti dumping duty on imports of Soda Ash extended till 2nd July, 2018

Notification No. 33/2017-Customs (ADD) (30/06/2017)

Seeks to Extend the applicability of Anti dumping duty imposed vide the Customs notification No. 34/2012- Customs (ADD) concerning imports of Soda Ash originating in or exported from China PR, EU, Kenya, Pakistan, Iran, Ukraine and USA....

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Customs (Import of Goods at concessional Rate of Duty) Rules, 2017

Notification No. 68/2017-Customs (N.T.) (30/06/2017)

These rules shall apply to an importer, who intends to avail the benefit of an exemption notification issued under sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and where the benefit of such exemption is dependent upon the use of imported goods covered by that notification for the manufacture of any commodity or prov...

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

Notification No. 67/2017-Customs (N.T.) (30/06/2017)

1. (1) These regulations may be called the Courier Imports and Exports (Electronic Declaration and Processing) (Amendment) Regulations, 2017. (2) They shall come into force on the date of their publication in the Official Gazette....

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CBEC amends forms related to Courier Imports and Exports (Clearance)

Notification No. 66/2017-Customs (N.T.) (30/06/2017)

Goods and Services Tax Identification Number (GSTIN) means the number assigned under rule 3 of the Goods and Services Tax Registration Rules, 2017...

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Bill of entry (Forms) (Amendment) Regulations, 2017

Notification No. 65/2017-Customs (N.T.) (30/06/2017)

1. (1) These regulations may be called the Bill of Entry (Forms) (Amendment) Regulations, 2017.(2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Bill of Entry (Forms) Regulations, 1976, for Form I, Form II and Form III, the following Forms shall be substituted, namely:-...

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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.