Custom Duty
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Appeal Dismissed Despite Valid Import Licence: SC Declines Interference
Customs Adjudication Set Aside for Improper Valuation and Confiscation
Customs Demand Set Aside Because Electronic Evidence Lacked Mandatory Certificate
Confiscation Set Aside Because Import Became Permissible Under Later DGFT Notification
Diagnostic Kits Classified Under CTH 38221990, Customs duty Exemption Denied
Lithium-Ion Cell Inputs Classifiable as Accumulator Parts as No Specific Heading Exists: CAAR
Imported OTG Kits Missing Parts Classified as Components, Not Appliances: CAAR
GST Applicable Because Lease Property Used for Commercial Accommodation: CAAR
MOOWR Duty Deferment Does Not Exempt Later Anti-Dumping Duty: CAAR
Temperature Test Chambers Merely Measuring Physical Properties, Not Electrical: CAAR
Chennai Customs Simplifies Entry Inwards and Cargo Handling
Customs Act Section 108 Statement Not Sufficient for Gold Bar Confiscation: Delhi HC
Optical Equipment Falls Under Excluded OTN/OTE Classes; Concessional BCD Not Available: CESTAT
CESTAT Quashes Cost Recovery Charge Demand Due to Lack of Statutory Authority
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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