Custom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Custom Duty : Instead of a formal signature, some documents are marked with S/d- (an abbreviation for signed) as a form of attestation. This rai...
Custom Duty : Excessive credit card spending may attract tax notices. Learn how to manage credit card transactions to avoid scrutiny and ensure ...
Custom Duty : Explore the jurisdictional conflicts in recovery proceedings under Customs Act Section 28AAA and FTDR Act, highlighting key issues...
Custom Duty : Comprehensive review of Indian 2024 Budget reforms on Customs & GST, highlighting impacts on manufacturing, exports, and tax admin...
Custom Duty : Discover the key changes in customs and excise duties proposed in the Union Budget 2024-25, including updated rates and legislativ...
Custom Duty : Government seeks suggestions on mandatory qualifiers in import/export declarations for synthetic diamonds to improve identificatio...
Custom Duty : Discover key amendments in Customs duties and tariff rates effective July 2024, including changes in Basic Customs Duty, Health Ce...
Custom Duty : Ministry of Finance unveils reforms in customs duties to support manufacturing, boost exports, and simplify taxation. Includes exe...
Custom Duty : CBI arrests Customs Superintendent at Sahar Airport, Mumbai for accepting Rs 80,000 bribe to clear an imported consignment. Invest...
Custom Duty : Explore the API integration between ICEGATE and IECs/CBs, its impact on document filing efficiency, challenges addressed, and futu...
Custom Duty : CESTAT Bangalore rules Montanide ISA 206 VG is not classifiable as a veterinary vaccine. Penalty on Bharat Biotech under Customs A...
Custom Duty : CESTAT rules that supervision and efficiency test charges paid to overseas suppliers can't be included in the assessable value for...
Custom Duty : Delhi HC reduces pre-deposit requirement for Shubh Impexs appeal in customs duty dispute over imported goods classification....
Custom Duty : CESTAT Delhi held that imposition of penalty and revocation of customs broker license justified as customs broker abetted the ille...
Custom Duty : Rajasthan High Court orders adjudicating authority to reconsider the dual classification of Aerosol Valves under Customs Tariff He...
Custom Duty : The CBIC revises customs tariff values for crude and refined oils, brass scrap, gold, silver, and areca nuts effective August 15, ...
Custom Duty : Chennai Customs introduces ERAM on ICEGATE for automated exchange rate publication, effective from 4th July 2024. Access rates onl...
Custom Duty : Notification 53/2024 updates tariff values for edible oils, brass scrap, gold, silver, and areca nuts. Effective from August 1, 20...
Custom Duty : The Ministry of Finance has updated Customs Notification No. 50/2017 with a 10% BCD on laboratory chemicals. New rules apply from ...
Custom Duty : Learn about the new regulations for amending import documents under Section 149 of the Customs Act, 1962. Understand the timeline,...
Notification No.82/2011 – Customs (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.74/2011-CUSTOMS (N.T.), dated the 27th October, 2011 vide number S.O.2444 (E), dated the 27th October, 2011, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st December, 2011 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.
Notification No. 104 /2011-Customs Whereas in the matter of imports of Hot Rolled Flat Products of Stainless Steel of ASTM Grade 304 with all its variants,(hereinafter referred to as the subject goods), classified under Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, European Union, Korea RP, South Africa, Taiwan and USA (hereinafter referred as the subject countries) and imported into India, the designated authority in its final findings vide notification No. 14/12/2010-DGAD, dated the 11th October, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, the dated 11th October , 2011, had come to the conclusion that –
Notification No. 81/2011 Cus.(NT) dated 25.11.2011: Central Board of Excise and Customs has issued new Customs (Provisional Duty Assessment) Regulations, 2011. The new regulations provide that duty can be provisionally assessed by the proper officer if an importer/exporter is unable to make self-assessment under section 17(1) of the Customs Act, 1962 or if the proper officer is not able to verify the self-assessment or make re-assessment of the duty on the imported/export goods.
Notification No. 80/2011 – Customs (N.T.) – (1) These regulations may be called the Shipping Bill (Electronic Declaration) Regulations, 2011.(2) They shall apply to export of goods from all customs stations where the Indian Customs Electronic Data Interchange System is in operation. (3) They shall come into force on the date of their publication in the Official Gazette.
Notification No. 79/2011 – Customs (N.T.) These regulations may be called the Bill of Entry (Electronic Declaration) Regulations, 2011. (2) They shall apply to the import of goods through all customs stations where the Indian Customs Electronic Data Interchange System is in operation. (3) They shall come into force on the date of their publication in the Official Gazette.
‘Self-Assessment’ in Customs has been implemented w.e.f. 8.4.2011 vide Finance Act, 2011 by suitable changes to Sections 17, 18, 46 and 50 of the Customs Act, 1962. Self-Assessment interalia requires importers / exporters to correctly declare value, classification, description of goods, exemption notifications etc. and self assess the duty thereon, if any. As Self-Assessment is newly introduced, the Central Board of Excise and Customs is releasing this Manual to guide importers / exporters in making correct Self-Assessment of duty of imported or export goods.
Notification No. 103/2011-Customs Whereas in the matter of imports of Opal Glassware (hereinafter referred to as the subject goods), falling under heading 7013 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred as the said Customs Tariff Act), originating in, or exported from, People’s Republic of China and UAE (hereinafter referred to as the subject countries) and imported into India, the designated authority in its preliminary findings vide notification No.14/24/2010-DGAD, dated the 27th June, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 27th June, 2011, had come to the conclusion that-
Shah Pulp & Paper Mills Limited Vs. UOI (Delhi HC) – In considering the challenge to the validity of paragraph 7(iii), it has become necessary for the Court to advert in some detail to the background underlying the promulgation of the scheme. The scheme, when it was issued initially on 24 November 2005 was designed to promote an expeditious facilitation of import cargo. The scheme seeks to balance the need of the trade and industry for facilitation on the one hand with the enforcement concerns of the department. An importer who is registered as an accredited client becomes entitled under the scheme to a clearance of the cargo on the basis of self assessment.
Champion Photostat Industrial Corporation Vs UOI (P&H High Court) – Section 46 of the Act deals with the submission of Bill of Entry by an importer. There is no condition in the said Section, which prohibits the submission of Bill of Entry by an importer himself or that the importer has to have some educational qualification. It is only Section 146 of the Act, which deals with the clearing with the intervention of the Customs House Agents. Since such agents have to act for others, certain qualifications have been fixed in the regulations framed to regulate their working and also by Public Notice.
NOTIFICATION No. 102 /2011-CUSTOMS In the said notification, in the Table, after S.No.35 and the entries relating thereto, the following S.No. and entries shall be inserted, ” 36 -Machinery, equipment, instruments, components, spares, jigs, fixtures, dies, tools, accessories, computer software, computer hardware, castings, forgings piping, tubing, chemicals, bio-chemicals, refrigerants, raw materials and consumables, ammunition and ground support equipments required for the Medium Range Surface to Air Missile (MR-SAM) Programme of Ministry of Defence namely:-
