Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Classification of Flexible Intermediate Bulk Containers – CESTAT Remanded Matter
Illegally Imported Goods without Valid Liable for Confiscation u/s 111 of Customs Act
SAD Refund Granted: Accounting procedures usually include past periods: CESTAT
CESTAT allows Refund Claim Appeal for Custom Duty amid Covid-19 Delays
No Maximum Penalty for Violating CBLR Provisions without License Revocation
Exchange Rates for Imported & Exported Goods with effect from 21st July, 2023
Unfair Suspension of Customs Broker License: Director’s Judicial Custody Prevented Representation
Actual use of inputs and quantities not required for claiming DFIA benefit
Zero Duty Export Promotion Capital Goods Benefit available in absence of simultaneous availment under SHIS
HC Directs Consideration of Refund Applications under Customs Act, 1962 (Section 27 & 27A)
Licence fee not includible to transaction value when it is not a condition of sale
Suspension of Licence of Customs Broker – CBIC directs adherence to guidelines
SAD Exemption Ineligible for Importer Violating Import Policy & Exemption Notification Terms
No Duty Demand Under Advance Authorization Scheme Post Discharge Certificate Issuance
Latest Custom Duty News
Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com
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.
