Custom Duty
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Penalty order cannot be passed without serving SCN
Penalty u/s 114 of Customs Act not leviable on CHA for non-assurance of correct classification of goods
Responsibility under regulation 10(n) doesn’t mandate customs broker to keep continuous surveillance on client
Provisional release application u/s 110-A directed to be filed against detention of Supari imported from Thailand
Rejection of application u/s 125 of Customs Act on sound reasons justifiable
CBIC notifies Customs Exchange rate for Import & Export wef 17.02.2023
Exemption notification gets effective only from date it got published in Official Gazette
Absolute confiscation of gold sustainable as appellant failed to prove that it was not smuggled
Security deposit is not governed by provisions of Section 27 of Customs Act
Tariff Notification No. 09/2023-Customs (NT) Dated: 15th February 2023
Reassessment by Deputy Commissioner after clearance of goods for home consumption is bad in law
Customs field formations and DRI keep constant vigil to deter smuggling of gold and drugs
Anti-dumping Duty cannot be demanded on the basis of expired notification
Duty paid against order assessing customs duty which was appealed is duty paid under protest
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.
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.
