Custom Duty
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Customs Officer not empowered to re-determine FOB Value of goods: CESTAT Delhi
India Imposes Provisional Safeguard Duty on Steel Imports
CBIC Recognizes Nepal’s Food Lab for Imports
Jewelry Worn or Concealed by Person Arriving in India Covered under Baggage Rules, Not Customs Act
Interest u/s. 50 of CGST Act applies on delayed payment of IGST in course of import
Customs Rules Amended: “Proof of Origin” Replaces “Certificate of Origin”
Financer Not Liable for Import Undervaluation Penalty Without Proven Involvement: CESTAT Kolkata
CAAR Ruling on VCU/PCU Classification for EVs
Ethyl Benzene is isomer of xylene hence classified under CTH 29024400
Additional duty leviable even if goods are exempted from basic customs duty: Madras HC
No Penalty & Redemption Fine Under 2023 Amnesty Scheme for Export Obligation Non-Compliance
Delhi HC Asks CBIC to Revisit Vedanta’s Drawback Plea on Clean Energy Cess
Personal Carriage Customs: Gems, Samples – Chennai
Drawback Rates Revised for Select Tariff Items
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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