Custom Duty - Page 5

Notification No. 97/2018- Customs (N.T.) Dated 07th December, 2018

Notification No. 97/2018- Customs (N.T.) (07/12/2018)

Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Port Meadow u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 97/2018- Customs (N.T.) New Delhi, the 07th December, 2...

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Customs Rate of Exchange of Foreign Currency wef 07.12.2018

Notification No. 96/2018-Customs (N.T.) (06/12/2018)

Customs Rate of Exchange of Foreign Currency Conversion wef 07.12.2018 notified vide Notification No. 96/2018 – Customs (N.T.) dated 6th December, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 96/2018-Customs (N.T.) New Delhi, dated the 6th Dece...

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Revised All Industry Duty Drawback Rates applicable from 19 Dec. 2018

Notification No. 95/2018-CUSTOMS (N.T.) (06/12/2018)

CBIC notifies Revised All Industry Duty Drawback Rates Schedule applicable w.e.f. 19 Dec. 2018, vide Notification No. 95/2018 Customs (NT) dt. 6 Dec. 2018 Duty Drawback Rates increased on most of the products like fish and fish products, calcined petroleum coke, various chemicals, dyes, tyres, leather articles, textiles, carpets, electron...

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Clarification on Customs & Central Excise notifications related to EOUs

Circular No. 50/2018-Customs (06/12/2018)

EOU/EHTP/STP/BTP schemes are governed by Chapter 6 of Foreign Trade Policy (FTP), duly supported by the relevant Customs and Central Excise notifications. These notifications have now been amended in order to align them with the present Foreign Trade Policy (FTP), 2015-2020, as amended...

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Notification No. 79/2018-Customs Dated 05/12/2018

Notification No. 79/2018-Customs (05/12/2018)

Amendment to notification no. 52/2003-Customs dated 31.03.2003 -reg. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 79/2018-Customs New Delhi, the 5th December, 2018 G.S.R. (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Cust...

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Anti-dumping duty on imports of Uncoated Copier Paper

Notification No. 56/2018-Customs (ADD) (04/12/2018)

CBIC Seeks to levy definitive anti-dumping duty on the imports of Uncoated Copier Paper originating in or exported from Indonesia, Thailand and Singapore vide Notification No. 56/2018-Customs (ADD) dated 4th December, 2018....

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How to dispose un-claimed/un-cleared cargo lying with custodians

Circular No. 49/2018-Customs (03/12/2018)

Following procedure with regard to expeditious disposal of un-cla imed/un-cleared cargo lying with custodians, whether in the private or public sector, under section 48 of the Customs Act, 1962, is prescribed...

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Procedure for movement of goods under TIR Carnets

Circular No. 48/2018 –Customs (03/12/2018)

TIR Carnet opened in the country of departure serves as a Customs control document in the countries of departure, transit and destination. It also serves as proof of the existence of an international guarantee for the goods transported under the Carnet. ...

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Tariff Notification No. 94/2018-Customs (N.T.) Dated: 30.11.2018

Notification No. 94/2018-Customs (N.T.) [S.O. 5880(E)] (30/11/2018)

Tariff Notification No. 94/2018-Customs (N.T.) Dated:- 30.11.2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver ...

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Reg. Replenishment of the gold or silver to the exporter

Notification No. 78/2018-Customs [G.S.R. 1154(E)] (29/11/2018)

Provided further that no replenishment of the gold or silver shall be available to the exporter where the exporter avails, in respect of exported product - (i) Cenvat credit on inputs under the Central Excise Act,1944; or (ii) input tax credit on inputs or services or both under Chapter V of the Central Goods and Services Tax Act, 2...

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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

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.