Custom Duty - Page 4

Notification No. 20/2019-Customs (N.T./CAA/DRI), Dated: 13.05.2019

Notification No. 20/2019-Customs (N.T./CAA/DRI) (13/05/2019)

Notification No. 20/2019-Customs (N.T./CAA/DRI) Principal Director General, Revenue Intelligence, hereby appoints Principal Commissioner/ Commissioner of Customs (Nhava Sheva-II), Jawaharlal Nehru Custom House, Raigad to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on erstwhil...

Read More

Anti-dumping duty on ductile iron pipes import from China till 23.06.2019

Notification No. 21/2019-Customs (ADD) [G.S.R. 352(E)] (09/05/2019)

Notification No. 21/2019-Customs (ADD)- seeks to amend notification No. 23/2013-Customs(ADD), dated 10th October, 2013 to extend the anti-dumping duty on ductile iron pipes originating in, or exported from China PR till 23rd June, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 21/2019-Customs (ADD) ...

Read More

Anti-dumping duty on ‘Saccharin’ originating in or exported from Indonesia

Notification No. 20/2019-Customs (ADD) (04/05/2019)

NOTIFICATION No. 20 /2019-Customs (ADD) Seeks to impose anti-dumping duty on Saccharin, originating in or exported from Indonesia, in pursuance with anti-dumping investigation final findings issued by the DGTR. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 20/2019-Customs (ADD) New Delhi, the 3rd May, 2...

Read More

CBIC notifies Rate of Exchange of Foreign Currencies wef 03.05.2019

Notification No. 35/2019-Customs (N.T.) (02/05/2019)

Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 3rd May, 2019 notified vide Notification No. 35/2019–Customs (N.T.) dated 2nd May, 2019....

Read More

CBIC postpones implementation of increased duty on specified imports from USA

Notification No. 14/2019-Customs (01/05/2019)

Seeks to further amend notification No. 50/2017-customs dated 30th June 2017 to postpone the implementation of increased customs duty on specified imports originating in USA from 2nd May, 2019 to 16th May, 2019. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 1st May, 2019 No. 14/2019-Customs G.S.R. 344(E).—In e...

Read More

Notification No. 34/2019-Customs (N.T.), Dated: 30.04.2019

Notification No. 34/2019-Customs (N.T.) (30/04/2019)

Tariff Notification No. 34/2019-Customs (N.T.), Dated: 30.04.2019- Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver – Reg Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 34/201...

Read More

CBI Arrests Preventive Officer of Customs in an On-Going Investigation of A DA Case

Central Bureau of Investigation CBI Arrests Preventive Officer of Customs in an On-Going Investigation of A Disproportionate Assets Case, and Recovers Rs.1,18,50,000/- The Central Bureau of Investigation has arrested a Preventive Officer of Customs, Goa in an on-going investigation of disproportionate assets case. His father (private pers...

Read More
Posted Under: Custom Duty |

CBIC increases basic customs duty (BCD) on wheat from present 30% to 40%

Notification No. 13/2019-Customs (26/04/2019)

Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017 so as to increase basic customs duty (BCD) on wheat from present 30% to 40% GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 13/2019-Customs New Delhi, the 26th April, 2019 G.S.R. (E).- In exercise of the powers conferred by sub-sect...

Read More

Govt can retain excess auction sale proceeds of confiscated goods: SC

Gillette India Ltd. Vs Commissioner of Customs & Ors. (Delhi High Court)

Under Sections 125 read with Section 126 of the Customs Act, 1962 where the redemption fine in lieu of confiscation is not paid within the time stipulated, the Central Government is entitled to retain the excess auction sale proceeds of the confiscated goods, after adjustment of the duty, penalty, interest and other statutory dues. ...

Read More

Shipping Bill (Electronic Integrated Declaration and Paperless Processing) Regulations, 2019

Notification No. 33/2019-Customs (N.T.) [G.S.R. 326(E)] (25/04/2019)

Shipping Bill (Electronic Integrated Declaration and Paperless Processing) Regulations, 2019 shall apply to export of goods from all customs stations where the Indian Customs Electronic Data Interchange System is in operation....

Read More

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 Taxguru.com

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.