Custom Duty
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Point of interception of goods is an important evidence in Customs
CESTAT remanded case back to proper officer | Section 149 | Customs Act, 1962
Notification No. 29/2021-Customs (N.T./CAA/DRI), Dated 23.06.2021
No penalty on confiscated gold jewellery from transit passenger not required to pass through customs barriers
Forwarding of samples using electronic Test Memo to CRCL & other Revenue Laboratories
CESTAT warns Assistant Commissioner of Customs for collecting penalty without furnishing order copy to Appellant
Imported External/portable hard disk drive classifiable under Tariff Item 84717020
Reg. Anti-dumping investigation concerning imports of Aluminium foil
CBIC Notifies Rate of Exchange of Foreign Currencies wef 18.06.2021
2 New Enhancements in ICES in respect of Faceless Assessment
Cigarette Sticks not declared in IGM: CESTAT quashes Penalty as No Opportunity of Cross-Examination given
BIS certification not mandatory for import of HARC
JNCH notifies Laboratories for testing of Animal Feed additives / Extra Virgin Oil
Tariff Notification No. 53/2021-Customs (N.T.), Dated:16.06.2021
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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