Custom Duty
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Goods can be provisionally released even during pendency of proceedings
Penalty u/s 112(a) of Customs Act reduced as appellant behaved in good faith
CESTAT removes condition of testing in VRDE for release of vehicle complying stipulations for operation & running on Indian roads
Supreme Court judgement has to be dealt by High Court with due respect: SC
Amount payable towards compounding of offence u/s 137 of Customs Act, 1962 reduced
CBIC notifies Customs Exchange rate for Import & Export wef 02.12.2012
DGFT Clarification prevails over allegation by Customs Department
Appellant refrained from filing refund claim by CBIC circular till SC verdict – Period till SC verdict not includible in limitation
Tariff Notification No. 100/2022-Customs (N.T.) | Dated: 30.11.2022
No allegation/ evidence demonstrates violation of regulation 10(n) of Customs Broker Licencing Regulations, 2018
Settlement order brings entire dispute to an end including co-noticee
CBIC Amends notification no. 48/2022–Customs (N.T.), dated 31.05.2022
CBIC Amends notification no. 47/2022–Customs (N.T.), dated 31.05.2022
Extension of Requirement of Health Certificate accompanied with import of food consignments-reg
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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