Custom Duty
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Notification No. 41/2014-Customs (ADD) Dated: 18.09.2014
Additional duty of Excise is leviable on an imported article only if Excise duty is levied on a like article manufactured in India
Amends Notification No. 83/2004- Customs (N.T.), the dated 30th June, 2004
Notification No. 84/2014-Customs (N.T.) Dated: 16/09/2014
Notification No. 83/2014-Customs (N.T.) Dated: 16.09.2014
Amends Notification No. 17/2002-Customs (N.T.), the dated 07th March, 2002
Supersession of Notification No. 36/2009-Customs (N.T.), the dated 17th March, 2009
Supersession of Notification No. 27/2009-Customs (N.T.), the dated 17th March, 2009
Notification No. 79/2014-Customs (N.T.), Dated: 16.09.2014
Supersession of Notification No. 15/2002- Customs ( N.T.), the dated 07th March, 2002
Supersession of Notification No. 14/2002- Customs ( N.T.), the dated 07th March, 2002
Notification No. 40/2014-Customs (ADD) Dated: 16.09.2014
The presumption of unjust enrichment is a rebuttable presumption
Department cannot take a stand contrary to instructions of CBEC
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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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