Custom Duty
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CWC entitled to demand and collect rent for goods entrusted to its custody
Tariff Notification No. 32/2203-Customs (N.T.) Dated: 28th April, 2023
Issues related to port charges for DPD-CFS containers
Customs Value declared by Assessee cannot be enhanced without rejecting it under Rule 12
CVD Exemption cannot be denied based on Impossible Condition in notification
Customs Broker Licence cannot be revoked for relying on data available on Govt websites
In absence of foreign marking and cogent evidence, onus is on department to prove that gold is smuggled
CBIC amends Notification Nos 11/2022 & 12/2022-Customs
CVD Refund – unjust enrichment-CA certificate sufficient to allow refund
Amendment of Notification No.18/2023 Customs (NT) dated 30.03.2023
Amnesty Scheme for one time settlement of default in export obligation
Classification of Mobileye Connect (Surveying system used for collision avoidance)
Customs Broker not liable for mis-declaration as BOE filed based on documents given by importer
Amendment of Notification No. 19/2022 Customs (NT) dated 30.03.2022
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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