Custom Duty
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Metal lease charge not in nature of interest is includible in assessable value
Redetermination of Imported Goods Value Based Solely on Importer’s Admission Not Allowed
Delhi HC directs Customs to Release Seized Gold & iPhones on Redemption/Storage Fee Payment
Lack of Evasion Intent: CESTAT Delhi Quashes ₹2 Crore Penalty on Former MD
Importer Cannot Claim Non-Involvement in Forged Duty Free Scrips: CESTAT Delhi
Printout from Pen Drive Invalid Without Section 138C Certificate – Customs Act
Sony India Wins Customs Duty Relief on Mobile Imports
Delhi High Court Quashes Decade-Old Customs Notice and subsequent order
Penalty u/s. 112(a) set aside as direct involved of Customs Broker in mis-declaration not established
Mismatch in Gold Dore Content Not Sufficient Proof for Customs Duty Evasion
Delhi HC directs Release of Duty Drawback After SC Stay
Delhi HC Permits Provisional Release of Seized Areca Nuts Amid Conflicting Test Reports
Director’s Arrest & Covid Impact: Delhi HC Condones 1610-Day Delay in Customs Appeal
Delhi HC allows Refund based on CA Certificate & Invoices, Rejects Unjust Enrichment
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.
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