Custom Duty - Page 644

EOU/EPZ Units export to Nepal – No export in bond permitted if payment is in Indian Rupees

Circular No. 48/95-Custom Duty (16/05/1995)

I am directed to say that as per the provisions of the notifications issued under Rule 13 and Rule 14 of the Central Excise Rules, 1944, the export of excisable goods to Nepal and Bhutan is permissible under bond without payment of excise duty subject to certain...

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Electronic Goods – Inputs Import Clearance – Notif. No. 203/92-Cus

Circular No. 49/95-Custom Duty DBK (15/05/1995)

Consumer Electronics and TV Manufacturers Association have brought to the Ministry's notice some difficulties being faced by them in clearance of inputs required for manufacture of Electronic goods in terms of proviso to clause (a) of Explanation (iii) of notification ...

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Weight calculation for duty liability

Circular No. 46/95-Custom Duty (04/05/1995)

The undersigned is directed to refer to your letter No. S/ 26-Mis-43 /95 VA, dated 31.3.1995 on the subject mentioned and to say that calculation of weight for the purpose of determining duty liability was discussed in the Conference of Collectors held in December, 1988 in the context of self adhesive tapes. The Conference held that if a ...

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Broad banding Inputs for Export Products

Circular No. 47/95-Custom Duty (03/05/1995)

Attention is invited to ALC Circular No. 4/95, dated 15.3.1995 issued by Shri H.L. Aswal, Deputy Director, DGFT to the effect that the facility of broad banding inputs required for manufacture of export products is available to Electronic, Writing Instruments...

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Circular No. 44/95-Custom Duty Dated 1/5/1995

Circular No. 44/95-Custom Duty (01/05/1995)

I am directed to say that Automobile Association of Upper Indian have informed that Federation of Indian Automobile Association will continue guaranteeing the AIT/FIA Carnet-de-passage, in new format,1 a specimen copy of which is enclosed and to request that ...

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Circular No. 43/95-Custom Duty Dated 26/4/1995

Circular No. 43/95-Custom Duty (26/04/1995)

Several instances have been brought to the notice of the Board wherein the Customs authorities have detected war materials (such as live shells, bombs, smoke bombs etc.) in consignment of heavy melting scrap imported a different ports and Inland container Depots at various locations in the country. The question ...

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Circular No. 42/95-Custom Duty Dated 24/4/1995

Circular No. 42/95-Custom Duty (24/04/1995)

The undersigned in directed to say that it has been brought to the notice of the Board that some local customs instructions were issued at Bombay airport to Air India during 1988 under which the Air India was prohibited from taking any through traffic via ...

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Circular No. 45/95-Custom Duty Dated 19/4/1995

Circular No. 45/95-Custom Duty (19/04/1995)

On the basis of technical write-up/ literature submitted, it is observed that the article is an induction motor control apparatus comprising of a convertor, and inverter, a current detection device, a voltage detection device, an overheating device, a Central ...

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Foreign travel tax – Revision of forms

Circular No. 41/95-Custom Duty (19/04/1995)

It is directed to say that at present the Board has prescribed three forms for the statement of collection of FTT, vide F.No. 310/19/79-FTT, dated 20.10.97 and F. No. 310/3/81-FTT, dated 29.4.81; Demand Notice vide F.No. 310/9/73-FTT, dated 28.7.93; and for refund claims vide F.No. 31.2.73; dated 2.4.1973. On review of the existing...

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Statement of Monthly Report in respect of IATT Collection and Collection charges paid to the Airlines

Circular No.40/95-Custom Duty (18/04/1995)

I am directed to say that it has been considered necessary by the Board to obtain the information on the collection of Inland Air Travel Tax and the collection charges paid to the Airlines for various purposes such as Budgetary exercise, replies to Parliament Questions and others. Accordingly two forms are proposed...

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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.