Custom Duty
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Customs Section 114AA Penalty Requires Proof of Knowledge & Intent to aid Undue Advantage
NOC Validity for Alcoholic Beverages Extended to 365 Days
India Restricts Import of Precious Metal Compounds
Import Policy Amended for Palladium, Rhodium, Iridium
CBIC Extends ICETAB Use to Export Examinations
Amending Bill of Entry for CVD Exemption Impermissible Without Re-assessment
CBIC Imposes Anti-Dumping Duty on Pretilachlor & PEDA Imports from China
CBIC Imposes ADD on Acetonitrile Imports from China, Russia & Taiwan
CBIC imposes Anti-Dumping Duty on Chinese Aluminium Foil upto 80 micron
CBEC Circular on 1% AIR Duty Drawback for Merchant Exporters Retrospective from 2008: SC
Solar Inverter Import Alone Ineligible for Custom Duty Exemption: Kerala HC
Compliance with 151 Indian Standards for Steel Products Effective 16th June 2025
Bank Guarantee Encashment Not Duty Payment; Unjust Enrichment Doctrine Inapplicable
EPCG Exemption Doesn’t Waive Export Obligation for Sericulture Industry: CESTAT Delhi
Latest Custom Duty News
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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.
