Custom Duty - Page 30

Notification No. 34/2018-Customs (N.T.), Dated: 27.04.2018

Notification No. 34/2018-Customs (N.T.) (27/04/2018)

Notification No. 34/2018-CUSTOMS (N.T.) Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg...

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Import of EOUs/EHTP/STP /BTP without payment of duty

Circular No. 10/2018-Customs (24/04/2018)

Clarification on Import of EOUs/EHTP/STP /BTP without payment of duty following Rule 5 of Customs (Import of Goods at concessional rate of Duty) 2018...

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Anti-dumping duty on imports of Methyl Ethyl Ketone or MEK

Notification No. 23/2018-Customs (ADD) (24/04/2018)

Notification No. 23/2018-Customs (ADD) Seeks to impose definitive anti-dumping duty on imports of Methyl Ethyl Ketone or MEK originating in, or exported from China PR, Japan, South Africa and Taiwan...

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DRI busts Diesel Smuggling racket

Release ID: 152981 (21/04/2018)

DRI busts Diesel Smuggling racket; 14 containers of diesel seized and 4 persons, including the Mastermind and one Hawala Operator, arrested under the Customs Act 1962....

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Posted Under: Custom Duty |

Remnant fuels classifiable under heading 2710

Circular No. 09/2018-Customs (19/04/2018)

Kind attention is invited to the Board circular No. 37/96-customs dated 3.7.1996 on the above subject. In the said circular, Board had inter-alia clarified that in the case of a vessel brought for ship breaking, the remnant fuel and oil (other than fuel and oil contained in the vessels machinery and engines), ships stores etc. are classif...

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Customs Rate of Exchange of Foreign Currency Conversion wef 20.04.2018

Notification No. 33/2018-Customs (N.T.) (19/04/2018)

Customs Rate of Exchange of Conversion Foreign Currencies wef 20.04.2018 notified vide Notification No. 33/2018-Customs (N.T.)dated: 19th April, 2018...

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Anti-dumping duty on imports of Glassware from China and Indonesia

Notification No. 22/2018-Customs (ADD) (18/04/2018)

Seeks to impose definitive anti-dumping duty on imports of Glassware, originating in, or exported from People's Republic of China and Indonesia....

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Anti-dumping duty on imports of Soda Ash from Russia and Turkey

Notification No. 21/2018-Customs (ADD) (17/04/2018)

G.S.R. (E). -Whereas, the Designated Authority vide initiation notification No. 7/4/2018- DGAD dated the 16th April, 2018, has initiated review in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act)...

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Suo Motu Rectification of order passed u/s 245D(4) on debatable issue by Settlement Commission not valid

The Commissioner of Income Tax Vs. Income Tax Settlement Commission & Another (Bombay High Court)

This Petition under Article 226 of the Constitution of India, challenges an order dated 2nd December, 2016 passed by the Settlement Commission (Commission) under Section 245 D(6B) of the Income Tax Act, 1961 (the Act)....

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Notification No. 32/2018-Customs (N.T.), Dated: 13.04.2018

Notification No. 32/2018-Customs (N.T.) (13/04/2018)

Notification No. 32/2018-CUSTOMS (N.T.) - Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified...

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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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