Custom Duty
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Air compressors used in car air conditioners classifiable under CTH 8414 8011: CESTAT Chennai
No Social Welfare Surcharge when Basic Customs Duty is zero: CESTAT Kolkata
Customs recovery proceedings against dead person unsustainable: Delhi HC
4% SAD leviable as benefit of exemption notifications not available on imported garment accessories: CESTAT Bangalore
Classification of Laboratory Chemicals Under Customs Tariff
CBI Registers illicit enrichment Case Against Customs Superintendent in Bangalore
Extension of Annual General Meeting (AGM): A Comprehensive Guide
Enquiry Report Against Assessee Quashed due to Procedural Lapses Under Regulation 17(5) of CBLR, 2018
Customs Broker Not Handling Export Consignment Not in Violation of Regulations 10(d) & 10(n)
Passing of speaking order mandatory in case of re-assessment of Bill of Entry: CESTAT Delhi
Light Green Float Glass (tinted non-wired type) should be classified under Tinted Glass subject to detailed examination
Amendment of Note 3 of Chapter 98 in First Schedule to Customs Tariff Act 1975
Interest payable on amount deposited during investigation and later refunded back: CESTAT Delhi
Custom Circular on Automated Exchange Rate Publication with Holiday Adjustments
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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