Custom Duty
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Classification of mill processed non-alloy ferrous waste metal goods wound in a coil
Glyteine (Gamma Glutamylcysteine) classifiable under CTH 21069099
HC Directs petitioner to apply for provisional release of goods to Custom Authorities
Notice for Customs Brokers Examination, 2022
Order passed by the Commissioner cannot be set aside merely it was time barred
Initiation of sunset Review investigation on imports of Toluene Di-isocyanate
Sunset review investigation concerning imports of tyre curing presses
CBIC extends ADD on uncoated copier paper till 28.02.2022
ADD on Natural Mica based Pearl Industrial Pigments excluding cosmetic grade
Penalty justified for not fulfilling responsibility of KYC on Customs Broker
Anti-Dumping Duty on Axle for Trailers extended till 28.01.2022
Sunset review investigation on imports of Glass Fibre & Article thereof
Govt removes levy of ADD on Barium Carbonate
Hand Mixers are different from Handheld Blender & not liable for BIS compliance
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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