Custom Duty
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Duty Liability Upheld as Notification Subsequent to Bill of Entry Filing Cannot Apply Retrospectively
Customs Penalty Set Aside as Pre-Shipment Certificate Found Valid & Unchallenged
Late Fee Set Aside as No Default Found in Filing Supplementary Bills of Entry: CESTAT Kolkata
Concessional Duty Denied as Boronated Calcium Nitrate is Distinct from Calcium Nitrate: CESTAT Ahmedabad
Poultry Feed Premix falls Under Heading 2309 Due to Specific Animal Feed Use: CAAR Mumbai
Interest on customs refund was not automatic depends on delay in processing
IT services mis-declared as Management Consulting Service for SEIS benefit: Duty recovery upheld
CBIC Updates Producer Name in ADD Notification on DGTR Advice
No CAAR Decision on E-Scooter Parts Classification After Application Withdrawal
Bail Granted Due to Intermediate Quantity of Ganja Seized in NDPS Case: Telangana HC
No Penalty if No Wilful Misdeclaration in Imported Goods: CESTAT Kolkata
Customs Notifies Panoli Port for Import-Export Handling
Value Enhancement Invalid as NIDB Data Alone Cannot Replace Declared Transaction Value
Payment of Duty Under Protest Not Treated as Appealable Order: CESTAT Mumbai
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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