Custom Duty
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Department cannot decide title of goods, when no one is disputing ownership
Authority duty bound to refund excess duty paid because of an error in EDI system
Jurisdiction of Settlement Commission in Relation to Goods under Section 123 of Customs Act- SC gives split verdict
MOA cannot be rejected by Customs if not incorrect, fabricated or if no variation in specification of goods
CBIC clarified on Electronic Cash Ledger raised by EXIM Trade/Customs Brokers
Cryptogenic Device/Token’ (ProxKey & ProxKey PRO) fall under Tariff entry 8471 80 00
No hard and fast rule can be laid down for fixing quantum of redemption fine
Penalty u/s 114A of Customs Act not imposable in absence of any duty demand
Court has discretionary power to waive pre-deposit requirement in rare and deserving cases
Transaction value rightly rejected due to mis-declared quantity & grade of guar gum
No conversion of DEEC Shipping Bills of IOCL to Drawback Shipping Bills since barred by limitation
CESTAT upheld rejection of refund as appellant not responded to Deficiency Memo & SCN
Appeal not maintainable if necessary interested parties not been impleaded as respondents
If calculation basis is wrong than is no way, such figures & calculation can be upheld
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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