Custom Duty
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Secondary adjudication under customs void ab initio due to pre-existing adjudication
Refund of Excess excise Duty Eligible on Quantity Discount Extension: CESTAT
CESTAT: HDPE Exempt from Customs Duty, Character Unchanged Even After Modification
Extension of due date for mandatory additional qualifiers in import/export declarations
Slight variation in physical weight not affects value declared on the basis of Theoretical Weight
CESTAT Chennai: SCN for Revocation of License Must Be Issued Timely
Advisory on Regularisation of Bills of Entry: Customs (Waiver of Interest) Third Order
Unsustainable Penalty u/s. 112 and 114AA without Knowledge of Prohibited Goods Import
Chennai Customs Clarifies Alleged Harassment Video
Madras HC Orders Provisional Release of Seized Car and Cash
Container Scanning Procedure: Customs Seal for Suspicious Containers
Classification of Echo Dot Devices – Customs Authority Ruling
Classification of ‘Self-ordering Kiosks’ imported in disassembled form
CESTAT Upholds Penalty for Mis-declared Quantity of Imported LED Lights
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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