Custom Duty
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Kidney Dialysis Machine Parts Classifiable Under CTH 9018: CESTAT Mumbai
Department Cannot Reclassify Mobile Phone Parts Without Proving Rule 2(a) GIR Applies: CESTAT Delhi
CBIC Empowers Board to Extend Two-Year Re-Export Period for Duty-Free Event Imports
CBIC Extends Anti-Dumping Duty on Chinese Arylides Till 13 January 2027
Provisional Release of Seized Imported Goods Allowed on Conditional Compliance: Telangana HC
Customs Duty Demand Set Aside for Comprehensive Container-Wise Verification: CESTAT Chennai
EPS-ECU Classifiable Under CTH 8708 94 00 as Automobile Part: CESTAT Delhi
Customs Cognizance and NBWs Set Aside for No Section 223 BNSS Hearing: Calcutta HC
Gold Confiscation Invalid Without Foreign Origin Proof or Section 110 Reasonable Belief: CESTAT Kolkata
Section 28(4) Extended Limitation Inapplicable to Customs Classification Dispute: CESTAT Delhi
Partial BCD Exemption Qualifies for NIL AIDC Under Serial No. 19: CAAR Mumbai
Withdrawal of Advance Ruling Application Before Pronouncement Permitted: CAAR Mumbai
Driver Monitoring System Parts Classified Under CTH 8708, Not CTH 8512: CAAR Delhi
Advance Ruling Declared Void for Misrepresentation of Material Facts: CAAR Delhi
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.
Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.
