Custom Duty
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Duty drawback cannot be denied for procedural irregularities
Investigation concerning imports of 2-Ethyl Hexanol- Reg.
Kolkata Customs seize 25 antiques idols valued at Rs 35.3 crore
Customs duty can be demanded only by officer having jurisdiction on import
HC Allows Provisional Release of Seized Goods after Collection of Customs Duty
Anti-dumping investigation concerning imports of Choline Chloride
14 suggestion for review of Customs Laws & Procedures
Notification of Nashik Airport as International Courier Terminal
Guidelines- Rules of Origin under Trade Agreements & verification of Certificates of Origin- reg.
Anti-dumping Investigation on imports of Arylides from China- Reg.
HC Direct Commissioner to Handover Delivery Order to Petitioner
HC admits writ challenging 7 Year old SCN issued by Custom department
Anti-dumping investigation of imports of ‘Soda Ash- Reg.
Safeguard investigation of imports of Single Mode Optical fibre- Reg.
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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