Custom Duty
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Amendment to Export Duty on Raw Hides & Leather: Notification No. 37/2024-Customs
Exemption of BCD & SWS on Critical Minerals: Notification No. 36/2024-Customs
Health Cess Revision on Imports – Notification No. 35/2024-Customs
Amendment of Notification No. 57/2000-Customs for Precious Metals
Amendment of Notification No. 11/2021-Customs for AIDC Revision
Amendment to India-UAE CEPA Rates w.e.f. 24th day of July, 2024
Changes in Basic Customs Duty (BCD) on various goods wef 24th July 2024
Duty free import of commercial samples – Revised Threshold: Rs. 3,00,000
Customs Duty Reforms: Boosting Manufacturing & Export Competitiveness
Budget 2024: Changes in Custom duty & GST – D.O. Letter
Consultative Group on Faceless Assessment at JNCH
Provisional attachment of bank account(s): Section 110(5) of Customs Act, 1962
Classification of Raw Silicon Carbide Bricks for DPF application: CAAR Ruling
Classification & Customs Duty Implications of Electronically Downloaded I-RECs
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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