Custom Duty
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Customs Exchange rate for Import & Export wef 15.11.2022 of Korean Won
Restricted entry of food items in under specific ports
Requirement of Registration of foreign food manufacturing facilities as per Food Safety and Standards (Import) First Amendment Regulations, 2021 dated 03.11.2021
Period of limitation u/s. 27(1B) of Customs Act not apply when duty was paid under protest
Amendment to section 129E incorporating mandatory pre-deposit is constitutionally valid
Tariff Notification No. 94/2022-Customs (N.T.) Dated: 11th November, 2022
Detention order set aside for supply of illegible/ dim/ blank pages of RUDs
Tariff Notification No. 93/2022-Customs (N.T.) | Dated: 10th November, 2022
Mis-declaring nature of goods in bill of entry renders revocation of authorized courier registration
Issue Guideline to deal with pending cases after IBC Proceedings initiation- CESTAT to CBIC
Person not complying with SC directions don’t deserve any leniency from pre-deposit
CESTAT allows benefit of deemed conclusion of proceedings under Section 28 of Customs Act
Importer can amend Bills of Entry on the basis of documents in existence at the time the goods been cleared/deposited
Show cause notice should not be with a pre-conceived & closed mind
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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