Custom Duty
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CAAR Delhi Classifies OPPO Tablet Back Cover Assembly with Battery Under CTH 8507
CESTAT Upholds 200% Customs Duty on Pakistani-Origin Brass Scrap Imports
CESTAT Kolkata Quashes Differential IGST Demand on Revenue Neutrality Grounds
Personal Customs Penalty Abates on Death and Cannot Be Recovered from Legal Heirs: Bombay hC
Customs Appeal Permitted and Writ Pendency Excluded From Limitation: Madras HC
CAAR Mumbai Disallows Roasted Areca Nut Advance Ruling Under Section 28-I(2)(b)
Customs Duty Demand for Alleged Fake DEEC Exports Set Aside by CESTAT Chennai
SC Sets Aside ₹425 Crore Customs Penalty Due to Fake AI-Generated Case Laws
CESTAT Mumbai Deletes Section 112(a) Penalty on Customs Hawaldar for Lack of Proof
Customs Cannot Indefinitely Detain Imported Car Without Seizure Order: Gujarat HC
Condonation of 968-Day Customs Appeal Delay Denied for Prolonged Inaction: Delhi HC
Forged Duty Scrip Liability Upheld but Section 112 Custom Penalty Set Aside: Delhi HC
FTWZ Clearance Is Fresh Import, Delhi HC Denies Re-Import Exemption
Madras HC Quashes ₹4.56 Crore Customs Duty & Penalty Demand Against Clearance Facilitator
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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