Custom Duty
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CBI arrests its Dy.SP and Four Others for Evasion of Customs Duty
Custom Duty- Proper officer – Section 2(34) – meaning and scope of the term “proper officer”
Clandestine Removal- A Blessing For 100 Per Cent EOU
Notification No. 11/2011-Customs Dated: 17/02/2011
Regarding anti dumping duty on Circular Weaving Machines originating in or exported from China PR
Custom Duty- Appeal over violation of rules on storing imported good
Custom Duty Notification No. 12/2011 – Customs (N.T.) amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001
Seeks to exempt Jute products when imported from Bangladesh – Notification No. 8/2011-Customs
Notification No. 09/2011-Customs Dated: 14/02/2011
Custom Duty- Amends Notification no. 74/2000-Customs (N.T.), dated the 12th December, 2000
Notification No. 10/2011-Customs (N.T.) Dated: 10/02/2011
Custom Duty- Amends the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995
Govt now allows BCCI duty free import for WC
Customs – Refund – Adjudicating Authority cannot permitted to circumvent the order passed by the High Court
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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