Custom Duty
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Tariff Notification No. 28/2023-Custom (N.T.) Dated: 13th April, 2023
Fees of technical knowhow not includible in assessable value of imported goods
Revenue cannot classify products under HSN other than one proposed in SCN
Custodians & Shipping Lines directed to waive demurrage & detention charges till 13.04.2023
Delay in receipt of review order not proved hence order u/s 129D(2) assumed to have been passed beyond 3 months
Customs Waiver of Interest from 11th April, 2023 to 13th April, 2023
Online filing of AEO-LO application – Version 3.0 of web-application Launched
Confiscation of jewellery unsustainable as no evidence established that it is smuggled
Transmission of Shipping Bills from Systems’ backend to DGFT for MEIS benefits
Notification No. 27/2023-Customs (N.T.) Dated: 10.04.2023
Anti-dumping duty on imports of Ursodeoxycholic Acid (UDCA) imposed
Export duty exempted on Rice in the husk (paddy or rough) of seed quality
Departmental appeal dismissed as time-barred on failure to establish date of receipt of order by reviewing authority
Enhancement of Value of copper scrap on LME price not justified in case of non-acceptance by assessee
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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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