Custom Duty
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Anti-dumping duty on imports of Hydrogen Peroxide
Anti Dumping Duty on imports of ceramic tableware & kitchenware
Notification No. 23/2017-Customs Dated- 12th June, 2017
Anti dumping duty on imports of Plain Gypsum Plaster Boards extended up to 06.06.2018
Classification of Dioctyl Orthophthalate (DEPH) — Reg.
Anti-dumping duty, on ‘Toluene Di-Isocyanate’ (TDI)- Reg.
Manual filing and processing of hills of entry / shipping hills-reg.
Notification No. 24/2017-Customs (ADD) Dated: 02.06.2017
Customs Rate of foreign currency exchange WEF 2nd June, 2017
Notification No. 51/2017-Customs (N.T.) Dated 31st May, 2017
Facility for Online Generation of Rotation Number by Shipping Lines/ Agents – reg.
Implementation of Hon’ble SC’s judgement titled SDGFT V/s Kanak Exports
Notification No. 22/2017-Customs Dated: 31st May, 2017
Disposal of Departmental Inquiries pending beyond 6 months -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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