Custom Duty - Page 3

Tariff concessions on specified goods when imported from Malaysia notified

Notification No. 84/2018-Customs [G.S.R. 1259(E)] (31/12/2018)

Seeks to amend notification No. 53/2011-Customs dated 01st July, 2011 so as to provide deeper tariff concessions in respect of specified goods imported from Malaysia under the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) w.e.f. 01.01.2019 vide Notification No. 84/2018 – Customs dated 31st December, 2018. GOVE...

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Tariff concessions on specified goods when imported from Korea RP notified

Notification No. 83/ 2018 - Customs [G.S.R. 1258(E)] (31/12/2018)

Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to provide deeper tariff concessions in respect of specified goods imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement (CEPA) w.e.f. 01.01.2019 vide Notification No. 83/2018 – Customs dated 31st December, 2018. GOVERNMENT OF...

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Tariff concessions on specified goods when imported from ASEAN notified

Notification No. 82/2018-Customs [G.S.R. 1257(E)] (31/12/2018)

Seeks to amend notification No. 46/2011-Customs dated 01.06.2011 so as to provide deeper tariff concessions in respect of specified goods when imported from ASEAN under the India-ASEAN Free Trade Agreement w.e.f. 01.01.2019 vide Notification No. 82/2018 - Customs dated 31st December, 2018....

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CBIC defers RFID – Electronic sealing of goods

Circular 54/2018-Customs (31/12/2018)

Electronic Sealing-Deposit in and removal of goods of goods from Customs Bonded Warehouses-deferment of Circular 19/2018-Customs dated 18th June, 2018 Circular 54/2018-Customs F.No.484/03/2015- ILC(Vol-11) Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs ***** North Block, New Del...

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CBIC notifies 8 more Foreign Post Offices for clearance of Import / Export Goods

Notification No. 103/2018-Customs (N.T.) / S.O. 6432(E) (31/12/2018)

CBIC notifies 8 more foreign post offices for the purposes of clearance of imported goods or export goods vide Notification No. 103/2018-Customs (N.T.) dated 31st December, 2018....

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Notification Fixing Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold & Sliver wef 31.12.2018

Notification No. 102/2018-CUSTOMS (N.T.) (31/12/2018)

Tariff Notification No. 102/2018-CUSTOMS (N.T.) dated: 31st December, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 102/2018-CUSTOMS (N.T.) New ...

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Notification No. 101/2018-Customs (N.T.) dated 28th December 2018

Notification No. 101/2018-Customs (N.T.) [S.O. 6359(E)] (28/12/2018)

Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 in respect of Dahanu Port, Maharashtra vide Notification No. 101/2018-Customs (N.T.) dated 28th December, 2018...

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CBIC allows operations U/s. 65 to continue in public bonded warehouses up to 31.01.2019

Circular No. 53/2018-Customs (28/12/2018)

CBIC has decided to allow operations under section 65 to be continued in public bonded warehouses up to 31st January 2019, in respect of such operations and for such operators, who had been permitted such facility by jurisdictional authorities, as on the date of issue of Circular 38/2018-Customs dated 18.10.2018....

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CBIC notifies Nhava Sheva-IV Commisisonerate as Audit Commissionerate

Notification No. 100/2018-Customs (N.T.) [G.S.R. 1236(E)] (27/12/2018)

Notification of Nhava Sheva-IV Commisisonerate as Audit Commissionerate vide Notification No. 100/2018-Customs (N.T.) dated 27th December, 2018...

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AO cannot reject transaction value declared in Bills of Entry without giving reasons: SC

Commissioner Of Central Excise And Service Tax Vs M/S. Sanjivani Non-Ferrous Trading Pvt. Ltd. (Supreme Court of India)

Commissioner Of Central Excise And Service Tax Vs M/S. Sanjivani Non-Ferrous Trading Pvt. Ltd. (Supreme Court of India) Original Authority in its Order-in-Original dated 25/03/2015 passed comments on the ground of writ petition and did not properly examine the evidence available with the department required to be examined for enhancement ...

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Latest Custom Duty News

Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com

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.

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