Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Amends Notification Nos. 91/2009-Customs, 94/2009-Customs and 99/2009-Customs all dated 11-09-2009, CUSTOMS Notification No 90/2010, 01-09-2010
Draft Scheme of "On Site Audit”- In the Context Of Post Clearance Audit (PCA) For Imports
Supreme Court Upholds the Department of Custom’s Order of Duty Demand of worth Rs. 40 Crore Against M/S Pernod Ricard India Private Limited
Customs – Notification No. 92/2010 – Exempts goods imported under the Export Promotion Capital Goods (EPCG) scheme
Notification No.82/ 2010-Customs (N.T.), New Delhi, dated the 9th September, 2010
Notification No. 81 / 2010-Customs (N.T.), New Delhi, dated the 9th September, 2010
Declaring airports at Delhi and Sahar, Mumbai (Bombay) as ‘customs airports for the purpose of Courier Imports and Exports Regulations
Amends Notification No.153/2009-Customs, dated the 31st December, 2009 – Exempts goods, when imported into India from the countries as specified in Appendix I, from so much of the duty of customs leviable thereon as is in excess of the prescribed rate
Courier Regulations for the manual and the electronic mode
Amends Notification No. 21/2002-Customs, dated the 1st March, 2002 – Exemption and effective rate of basic and additional duty for specified goods of Chapter 1 to 99
Regarding exemption to imported raw hides and skins and semi-processed leathers from customs duty
Amends Notification Nos. 91/2009-Customs, 94/2009-Customs and 99/2009-Customs all dated 11-09-2009 – Exempts materials imported into India against a Duty Free Import Authorisation issued in terms of Foreign Trade Policy
India may implement free trade agreement (FTA) with Indonesia and Cambodia
Amends Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001, CUSTOMS Notification No 78/2010 (NT), 31-08-2010
Latest Custom Duty News
Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com
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.
