Custom Duty - Page 30

Increase in Custom duty on crude / Refined edible vegetable oils

Notification No. 47/2018-Customs (14/06/2018)

Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017 so as to increase basic customs duty (BCD) to 35% on crude edible vegetable oils and to 45% on refined edible vegetable oils with effect from 14th June 2018. ...

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Anti-Dumping investigation on imports of Saccharin from Indonesia

F. No. 6/13/2018 (14/06/2018)

Initiation of Anti-Dumping investigation concerning imports of Saccharin originating in or exported from Indonesia. Saccharin is a non-nutritive sweetener and considered to be low calorie substitute for cane sugar. Primarily there are two types of Saccharin i.e. soluble and insoluble. ...

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CBIC notifies Karanja Terminal u/s 7(a) of Customs Act, 1962

Notification No. 52/2018- Customs (N.T.) (13/06/2018)

Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Karanja Terminal u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods. ...

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Procedure for e-commerce exports through Post & clarification regarding personal imports

Circular No. 18/2018-Customs (13/06/2018)

During the course of stake holder consultations held in the Board on 11th June 2018, industry represented that there are large number of cases where low-value-small-shipments, which characterize e-commerce environment, are shipped through post. In such cases, single payments are received by exporters from e-commerce portal companies throu...

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Powers of adjudication of the officers of Customs- reg

Circular No. 17/2018-Customs (13/06/2018)

References have been received that due to issuance of the said Circular, the SCNs issued previously would need to be amended in terms of the revised adjudication powers prescribed in the said Circular. This exercise would delay the adjudication proceedings....

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Power Banks not eligible for benefits under N/No. 12/2012-Customs

CCE Vs S.B. Industries (CESTAT Delhi)

The present appeal has been filled by the Revenue against the Order-in-Appeal No.204/GST/DL-Appl-II/17/ vide which the Commissioner (A) has set aside the order of adjudicating authority....

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Notification under Section 7 notifying Surat airport as Customs airport

Notification No. 51/2018-Customs (N.T.) [G.S.R. 534 (E)] (08/06/2018)

Notification No. 51/2018-Customs (N.T.) Dated- 8th June, 2018- under Section 7 of the Customs Act, 1962 notifying Surat airport as Customs airport for Unloading of baggage and the loading of baggage...

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Monetary limits for adjudication by Custom officers in cases liable to confiscation

Circular No. 16/2018-Customs (08/06/2018)

In order to improve the disposal rate in deciding cases falling under Chapter XIV, it has been decided that for cases where value of the goods liable for confiscation is above 10 lakhs, the adjudication powers shall be exercised as under:...

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CBIC notifies Custom officers for adjudging confiscation or penalty

Notification No. 50/2018-Customs (N.T.) [G.S.R. 533 (E)] (08/06/2018)

Notification No. 50/2018-Customs (N.T.) CBIC hereby confers power, for purposes of adjudging confiscation or penalty, on Customs Officer as mentioned in column (2) of the Table below, in terms of value limit as specified in column (3) of the said Table, in relation to goods which are liable to confiscation under Chapter XIV of the said A...

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Customs Rate of Exchange of Foreign Currency Conversion wef 08.06.2018

Notification No. 49/2018-Customs (N.T.) (07/06/2018)

Customs Rate of Exchange of Conversion Foreign Currencies wef 08.06.2018 notified vide Notification No. 49/2018-Customs (N.T.) dated: 7th June, 2018...

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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

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.