Custom Duty - Page 10

Notification No. 74/2018–Customs Dated: 11/10/2018

Notification No. 74/2018–Customs (11/10/2018)

CBIC seeking to amend First Schedule of Customs Tariff Act, 1975 vide Notification No. 74/2018–Customs Dated; 11th October, 2018 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 74/2018–Customs New Delhi, the 11th October, 2018 G.S.R…..(E).- WHEREAS the Central Government on being satisfied that the i...

Read More

IGST refunds cannot be claimed after claiming drawback

Circular No. 37/2018-Customs (09/10/2018)

It has been noted that exporters had availed the option to take drawback at higher rate in place of IGST refund out of their own volition. Considering the fact that exporters have made aforesaid declaration while claiming the higher rate of drawback, it has been decided that it would not be justified allowing exporters to avail IGST refun...

Read More

Anti-dumping duty on imports of Ductile Iron Pipes

Notification No. 51/2018-Customs (ADD) [G.S.R. 1012 (E)] (09/10/2018)

Seeks to amend the notification No. 23/2103 dated the 10th October, 2013 to extend the levy of anti-dumping duty on the imports of 'Ductile Iron Pipes' originating in or exported from China PR vide Notification No. 51/2018-Customs (ADD) dated 9th October, 2018....

Read More

e-seals merit classification under Heading 8309: CBIC

Instruction No. 16/2018 - Customs (08/10/2018)

Electronic seals are seals only but with electronic add on (RFID) to detect security breach. Therefore, e-seals merit classification under the Heading 8309 which covers- Stoppers, caps and lids (including crown corks, screw caps and pouring stoppers), capsules for bottles, threaded bungs, bung covers, seals and other packing accessories, ...

Read More

Anti dumping duty on Nylon Filament yarn imported from Vietnam & EU

Notification No.50/20 18-Customs (ADD) [G.S.R. 998 (E)] (05/10/2018)

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 50/2018-Customs (ADD) New Delhi, the 5th October, 2018 G.S.R. 998(E). –Whereas, in the matter of ‘Nylon Filament Yarn (Multi Filament) (hereinafter referred to as the subject goods) falling under tariff heading 5402 of the First Schedule to the Customs Ta...

Read More

Reward scheme for informers of GST / Custom Duty evasion amended

Circular No. 36/2018- Customs (05/10/2018)

Consequent to the introduction of GST, a need was felt to include recovery in cases under CGST and IGST Acts under the Reward Guidelines to ensure their parity with cases booked under the Customs Act, NDPS Act, Service Tax and Central Excise References were also received in the Board to treat officers of other Government agencies, who pla...

Read More

Applicability of provisions of Customs Act to Cruise Tourism-reg

Instruction No. 15/2018-Customs (04/10/2018)

Ministry of Shipping has taken initiative to promote Cruise Tourism Industry in India. In meetings held in Shipping Ministry, various issues related to Cruise Tourism were discussed. Also, Cruise Companies have sought clarifications with regard to applicability of Customs provisions....

Read More

Customs Rate of Exchange of Foreign Currency Conversion wef 05.10.2018

Notification No. 85/2018 - Customs (N.T.) (04/10/2018)

Customs Rate of Exchange of Foreign Currency Conversion wef 05.10.2018 notified vide Notification No. 85/2018 – Customs (N.T.) dated 4th October, 2018...

Read More

Notification No. 21/2018-Customs (N.T./CAA/DRI) Dated:-01.10.2018

Notification No. 21/2018-Customs (N.T./CAA/DRI) (01/10/2018)

Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 21/2018-Customs (N.T./CAA/DRI) New Delhi, dated the 01st October, 2018 S.O. (E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(...

Read More

Advisory circular for registration of beneficiaries on ICEGATE

Circular No. 35/2018-Customs (01/10/2018)

Customs has introduced Single Window Interface for facilitating Trade (SWIFT) as part of ease of doing business initiative to integrate Customs and other Participating Government Agencies (PGAs) for seamless processing of import and export clearances. ...

Read More

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

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.