Custom Duty
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Pr. Commissioners of Customs can decide amount of security required in certain cases of provisional assessments
Karnataka HC orders for appearance through Video Conferencing for summon issued
Tariff Notification No. 67/2021-Customs (N.T.) Dated: 13.08.2021
Not to call Physical documents for non-revenue bearing amendments in BE
Importer not liable for error in generation of Bill of Entry on ICEGATE Portal
Seized goods to be provisionally released during pendency of proceedings before Adjudicating Authority
CBIC removes ADD on Viscose Staple Fibre (VSF)
Amendment in Bill of Entry cannot be denied when mistake is by Revenue Authorities
Whether a Judicial/Metropolitan Magistrate can conduct proceeding under Section 110 (1B), Customs Act
Notification No. 31/2021-Customs (N.T./CAA/DRI) Dated: 12.08.2021
Notification No. 30/2021-Customs (N.T./CAA/DRI), Dated: 12.08.2021
Penalty cannot be imposed for issue already been adjudicated for Penalty
Tariff Notification No. 66/2021-Customs (N.T.) | Dated: 11.08.2021
Restrict import of unauthorized mobile signal booster/repeater: CBIC
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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