Custom Duty
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Customs Confiscation Challenge Must Follow Statutory Appeal Route: Delhi HC
Delhi HC Dismisses Gold Confiscation Writ, Leaves Section 124 Issues Open
Delhi HC Dismisses Gold Release Petition, Directs Time-Bound Customs Hearing
Delhi High Court Dismisses Gold Confiscation Writ, Grants Customs Revision Liberty
Delhi HC directs Customs adjudication before deciding release of detained gold bars
Delhi HC Upholds Gold Detention Where Petitioner’s Own Records Disputed SCN Non-Compliance
CAAR Mumbai declines ruling on roasted areca nuts; classifies pistachios, almonds & cashews
CAAR Delhi Declines Classification Ruling on Roasted Areca Nuts Due to Madras HC Decision
Two SCNs Retain Separate Legal Identity Despite Common Investigation: Delhi HC
Supreme Court Remands Mittal Pigments Customs Classification Matter to CESTAT
Imported Lead Powder Classifiable as Lead Concentrate Under Heading 26070000: CESTAT Ahmedabad
Cloud Point Alone Cannot Justify Seizure of Distillate Marine Fuel: Gujarat HC
CESTAT Rejects Chapter 78 Classification of Imported Lead-Bearing Material
One-Year EPR Registration Valid for Plastic Import Clearance: CBIC
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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