Custom Duty
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CHA Cleared Vessel Import Without Misclassification; No Section 112(a) Penalty
Assemblies, sub-assemblies, components, sub-components imported under EPCG allowed as spares under FTP
Customs Duty Based on Actual Crude Oil Received in Indian Port Tank: CESTAT
Kerala HC Directs Customs: Expedite Appeal on Electric Scooter Import
Ship Demurrage Charges not includible in Transaction Value of Imported Goods: CESTAT
Delay in Sample Drawal Affects Carotene Level: CESTAT Bangalore
No Customs Exemption for Wind-Operated Electricity Generator Without MNRE Certificate
ESTAT Dismisses Appeal: Customs Fails to Prove Delay in Order Receipt
Lack of Corroborative Evidence – CESTAT Quashes Customs Act Section 112A Penalty for Import Undervaluation
Mere Retracted Statements Insufficient for Customs Act Penalties: CESTAT
SAD Refund on Shoe Import cannot be rejected if rejection Grounds not in SCN
CHA License & Security Deposit Unaffected Without Direct Involvement: CESTAT
Kerala HC Directs Customs to Release Seized Vehicle
Demand on past consignments based on examination report of live consignment unsustainable
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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