Custom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Custom Duty : Anti-dumping duty protects local manufacturers from unfairly cheap imports that can damage domestic markets. The article explains ...
Custom Duty : The new customs notifications standardize the effective import duty on gold and silver bullion at 15% through revised BCD, SWS, an...
Custom Duty : The article argues that the sharp increase in gold import duty was triggered by pressure on India’s forex reserves, rising oil p...
Custom Duty : Emergency customs relaxations introduced during the maritime crisis expire on 30 April 2026, leaving exporters uncertain. The fram...
Custom Duty : Highlights how the EMI Scheme allows businesses to defer duty payments, easing working capital pressure while improving operationa...
Custom Duty : The India–Oman Comprehensive Economic Partnership Agreement became operational on 1 June 2026 after completion of required proce...
Custom Duty : The reform removes value restrictions on courier exports, enabling higher-value shipments. It aims to boost e-commerce exports and...
Custom Duty : CBIC has allowed Eligible Manufacturer Importers to avail deferred payment of customs duty from 1 April 2026. The circular outline...
Custom Duty : The CBI has registered a bribery case against three Customs officials accused of taking illegal gratification to release seized go...
Custom Duty : The new rules enhance duty-free allowances and introduce digital declarations. The overhaul aims to speed up clearance and improve...
Custom Duty : CAAR Mumbai held that CKD kits comprising discrete electronic components could not be classified as motherboards under CTH 8473 30...
Custom Duty : The Court held that retention of seized cash beyond six months is illegal if the extension order under Section 110(2) of the Custo...
Custom Duty : Tribunal ruled that interest liability extends to the full duty adjudged under Section 28, regardless of whether payment is made t...
Custom Duty : The Court ruled that confiscation proceedings before Customs Authorities do not amount to prosecution before a judicial tribunal. ...
Custom Duty : Where an EPCG licence holder becomes incapable of fulfilling export obligations due to unavoidable circumstances such as SARFAESI ...
Custom Duty : Government extends countervailing duty on aluminium wire/wire rod imports from Malaysia up to 23 March 2027 through Notification N...
Custom Duty : Government extends anti-dumping duty on aluminium foil from China, Malaysia, Thailand and Indonesia up to 15 December 2026. Notifi...
Custom Duty : The Central Government has amended Notification No. 62/2022-Customs to prescribe a 0% Basic Customs Duty on all goods falling unde...
Custom Duty : CBIC has designated a common adjudicating authority to decide several customs show cause notices issued by different commissionera...
Custom Duty : CBIC exercised its powers under the Customs Act, 1962 to appoint a common adjudicating authority for two customs proceedings invol...
The principal notification No.87/98-Customs (N.T.), dated the 9th November, 1998 was issued vide GSR 662(E), dated the 9th November, 1998 and was last amended by notification No.66/99-Customs (N.T.), dated the 25th November, 1999 issued vide GSR 785(E), dated the 25th November, 1999.
The principal notification No. 79/95-Customs dated, the 31st March, 1995 was published in the Gazette of India, Extra-ordinary vide GSR 301 (E), dated the 31st March, 1995 and was lastly amended by Notification No. 120/00-Customs ,vide GSR 725 (E) dated the 15th September,2000.The principal notification No. 80/95-Customs dated, the 31st March, 1995 was published in the Gazette of India, Extra-ordinary vide GSR 309 (E), dated the 31st March, 1995 and was lastly amended by Notification No. 120/00-Customs , dated the 15th September,2000 vide GSR 725 (E) dated, the 15 September 2000.
For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.
For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962).
Such gold would, as far as possible, be in an easily marketable form such as TT bars, 1 kg. Bars, 500/100 gms, bars etc. Crude gold/jewellery will be converted by Customs Department to .999/995 purity before delivery to the Bank for sale
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts rough diamonds and other precious or semi-precious stones, unset and uncut, falling under Chapter 71 of 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 under the said First Schedule and the additional duty.
To cite a specific example, the entry at S.No.41 of Chemical Group which reads as “Enalapril Maleate 2.5/5/10 mg. Tablets” would cover only such tablets. The entry at Sr.42 ibid which reads as “Erythromycin BP 88” would cover only the bulk drug. The formulations made out of erythromycin BP 88 shall not be covered Sr 42 but only under Sr. 37 and would be eligible for the reduced rate as per the said Sr.37.
In the circumstances, it is considered advisable to clarify that nothing contained in the earlier letter should be construed as authorizing the exclusion of any ship demurrage charges paid which are required to be included in the assessable value of goods under Section 14 of the Customs Act, 1962 interalia by virtue of Rule 9 (2) of the Customs Valuation Rules, 1988.
It is requested to inform the field formations in your jurisdictions suitably. A review of the pendencies in this regard may also be made in the Commissionerates and officers incharge of exit points for vehicles should be asked to send requisite particulars to the officers at the entry point, wherever not already done to help reconcile all pending cases on an urgent basis.
The principal notification No. 61/2000-Customs, dated the 12th May, 2000 was published in the Gazette of India, Extraordinary, vide number G.S.R. 435 (E), dated the 12th May, 2000 and was last amended by notification No. 144/2000-Customs, dated the 21st November, 2000 published vide number G.S.R. 883 (E), dated the 21st November, 2000.
