Custom Duty
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Quicklime Containing Less Than 98% Calcium Oxide Classifiable Under CTH 2522: CESTAT Mumbai

Classification Dispute No Ground to Deny Provisional Release for Re-Export: CESTAT Chandigarh

IGST Demand Set Aside as Extended Limitation Not Applicable: CESTAT Kolkata

CBIC Notifies Udangudi for Unloading of Imported Coal

CBLR Violations Not Established, Licence Revocation Set Aside: CESTAT Mumbai

Customs Broker Licence Revocation and Penalties Set Aside for Lack of CBLR Violations: CESTAT Mumbai

Differential Customs Duty Demand Set Aside as Self-Assessment Remained Unchallenged: CESTAT Kolkata

Section 114A Penalty Deleted After Reclassification Failed: CESTAT Kolkata

CAAR Mumbai Classifies Hydrolysed Yeast Feed Additive Under Tariff Item 21022000

CAAR Delhi Classifies Automotive Display Module as Motor Vehicle Part, Denies Customs Exemption
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.
