Custom Duty
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Refund of excess payment of customs duty rejected as time barred: CESTAT Hyderabad
Insulin manufactured using r-DNA technology eligible for customs exemption: CESTAT Chennai
Coating machine classifiable under Customs Tariff Item 8422 30 00: CESTAT Mumbai
Export of Rice: Discontinuation of drawing of sampling & testing before Let Export Order
Anti-Dumping Duty Imposed on Glass Imports from China, Vietnam
CBIC Rescinds Notification No. 32/2022-Customs, dated 30th June, 2022
Inordinate Delay in SCN Adjudication Violates Natural Justice Principles: Bombay HC
Importer cannot challenge enhanced value post acceptance of the same: CESTAT Chennai
Procedure to issue EDI Port Clearance/Advance Port Clearance
Product aligning with function of microphone is classifiable under CTH 8518: Delhi HC
Benefit of notification 52/2003-Cus. dated 31.03.2003 admissible on re-import of rejected goods
Assembly of TV from Components is a Manufacturing Process: CESTAT Ahmedabad
Import Values Cannot Be Rejected Solely on NIDB Data: CESTAT Chennai
Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold & Silver wef 30.11.2024
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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