Custom Duty - Page 636

Circular No. 29/96-Custom Duty Dated 24/5/1996

Circular No. 29/96-Custom Duty (24/05/1996)

The undersigned is directed to refer to the provision of notification no. 148/94-Cus. dt. 13.7.94, Sl. No. 1 of the Table which exempts the import duties on foodstuffs, medicines, clothing etc. imported by reconised charitable organisation for free distribution...

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Circular No. 28/96-Custom Duty Dated 14/5/1996

Circular No. 28/96-Custom Duty (14/05/1996)

I am directed to refer to the instructions issued by the Board vide circular No. 68/95 dated 15th June, 1995 (F. No. 473/61/94-LC) and to say that a doubt has arisen whether the applications for grant of licences to private bonded warehouses may be granted even though, if violations committed by the party does not come within the exact am...

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100% EOUs etc. – CE Commissioners to handle cases where both Cus. & Excise Commissioners exit

Circular No. 27/96-Custom Duty (10/05/1996)

I am directed to refer to the Ministry Circular No. 126/95 of even No. dated 12.12.95, on the above subject and to say that on re-examination of the said instructions it has been decided by the Board that sub-para (b) of para 2 of the said circular will be substituted as below...

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Transshipment of import containers from JNP to CFS Mulund, Bombay

Circular No. 26/96-Custom Duty (08/05/1996)

I am directed to refer to letter No. 95/ CONCOR dated 2.2.96 from G.M.CONCOR addressed to Member (Customs) for permission for transhipment of import containers form Jawahar Customs House to CFS (Import) Mulund, Bombay. The matter was examined in Board's officer and it was observed that the...

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UPSS classifiable under 8543.89 CTA and 8543.00 of CETA

Circular No. 25/96-Custom Duty (24/04/1996)

I am directed to say that doubts have been raised regarding the classification of uninterruptible power supply system (UPSS) under First Schedule CTA '75 (the Custom Tariff) in the wake of the decision of the Hon'ble CEGAT in the matter of J.K. Synthetic Ltd. v/s. Collector of Customs, Jaipur [1995 (80) ELT 208 (Tribunal)], holding that U...

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Discharge of Export Obligation under DES/ EPCG Scheme – Licensing authority to be monitoring agency

Circular No. 24/96-Custom Duty (19/04/1996)

Attention is invited to Ministry's Circular No. 131/95 dated the 20th December, 1995 clarifying the scope of certain amendments to notifications issued under DEEC and EPCG Scheme particularly for discharge waiver of Bond to be executed with the Customs Authority. The DGFT have observed that the Circular militates ...

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Conversion of DEEC Shipping Bill to Pass Books Shipping Bills – Procedure of

Circular No. 22/96-Custom Duty (19/04/1996)

Directorate General, Foreign Trade had permitted conversion of S/ Bills filed under Duty Exemption Scheme to Pass Book Scheme subject to conditions specified in their Circular No. 21/95 dated 4th October, 1995. The said circular permits conversion of only those Shipping Bills which were filed on or after 30th May, 1995, the date on which ...

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Circular No. 21/96-Custom Duty Dated 16/4/1996

Circular No. 21/96-Custom Duty (16/04/1996)

The Commissioners and intending Custodians are requesting for early notification for declaring places as ICDs under Section 7(aa). of Customs Act, 1992...

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Circular No. 20/96- Custom Duty Dated 4/4/1996

Circular No. 20/96- Custom Duty (04/04/1996)

I am directed to refer to Commissioner of Customs, Ahmedabad's letter F.No. VIII/ 40-13/ Cus (T)/95 dated 22.12.95 regarding grant of licence to private bonded warehouses under section 58 of the customs Act, 1962 and to say that the sensitivity of a product may ...

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Maintenance free Batteries import against licence only

Circular No. 19/96-Custom Duty (03/04/1996)

I am directed to say that the question of improbability of maintenance free batteries was considered by the Specified Licensing Committee (SLC) at its meeting held on 30.5.95. The Committee had decided that maintenance free batteries being consumer goods are covered under the Negative List of Imports and therefore, cannot be allowed to be...

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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.

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.