Custom Duty
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Mis-shipment: Madras HC Orders Quick Re-export Decision for Perishable Goods
Notification No. 03/2024-Customs (CVD): Countervailing Duty on Tyres
Custom notification: Extension of RoDTEP support to exports by unit in SEZ
CBI Arrests Customs Officer in Rs 80,000 Bribery Case
CESTAT Quashes Confiscation Order & Redemption Fine Due to Lack of Illegal import Proof
Conditions of ‘Actual Use’ & Amendments in SION: Implications for Duty-Free Imports
Challenge to a SCN Requires Lack of Jurisdiction or Insufficient Grounds
Limitation Period Not Applicable for Custom Duty Paid Under Protest: CESTAT Allahabad
No Penalty Under Section 112(b)(ii) Without Evidence of Smuggled Gold
Edible supari & industrial betel nut same product: HC allows SAED refund claim
Note On API-Based Integration Between ICEGATE And IECs/CBs
Debiting Duty Scrips: A Payment Mode, Not Just Administrative: Madras HC
Customs Act: Gold Confiscatable if Foreign-Origin or Smuggling proved
Aerosol valves containing medicament classifiable under 8481 8090: CESTAT Mumbai
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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