Custom Duty
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Appointment of Customs Adjudicating Authority for Royal Canin India Pvt Ltd SVB Case
Removal of export duty end date on Parboiled Rice & specified conditions on Yellow Peas imports
T4 & K200 Time Attendance Systems classifiable under Chapter 8543
Delhi HC Dismisses Writ Petition on Gold Dore Bars Release
Customs Instruction No. 03/2024: Compliance with Boric Acid Standards
Customs Notification 11/2024: Amendments in Tariff Rates
Changes in tariff rates for meat, berries etc Effective from 20th Feb 2024
Finger Print Readers Not Computer Accessories & classifiable under CTH 8543
CESTAT Chennai Restored Customs Broker License revoked for due diligence lapses, upheld penalty
`PVC raincoats’ merit classification under CTI-16201: CAAR Mumbai
Classification of ‘Interactive Display System ‘Viewboard’: CAAR Mumbai Ruling
GFCL EV Products Ltd.: Customs Act Advance Ruling Withdrawn
ATA Carnet System and Tax Administration
No Penalty Without Corroborative Evidence in Illegal BMW M5 Import Case
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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