Custom Duty
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Grievances related to process of reconciliation of realization of export proceeds in terms of CBEC Circular No. 5/2009-Customs
Regarding inclusion of Kattupalli (Tamil Nadu) in list of ports permitted for exports and imports
Notification No. 34/2013-Customs (N.T.) Dated: 02/04/2013
Designates Sh. G.S. Sarna as the Director General (Specific Safeguard)
Govt increases tariff value of gold to prevent under invoicing
Regarding examination of export consignments of perishable cargo
Yemen included in the list of Least Developed Countries eligible to avail the benefit of duty free tariff preferences (DFTP) scheme
Pre-deposit requirement for appeal filing may be waived if Assessee has no means to pay the same
Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001
Custom House, Chennai to function on 29th, 30th and 31st 2013
Narcotic Drugs and Psychotropic Substances (Regulation of Controlled Substances) Order, 2013
Seeks to impose final safeguard duty @ 20% on imports of Hot rolled flat products of stainless Steel 304 grade( up to a max width of 1605 mm) into India from China from 4th January, 2013 to 22nd July, 2013 (both days inclusive)
Seeks to levy Anti -dumping duty on Flat Base Steel products originating in, or exported from, China
Exemption from customs duty on Import of Pulses extended upto 31-3-2014
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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