Custom Duty
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Custom Notification No 47/2010 – Regarding anti dumping duty on nylon filament yarn
Custom Notification No 46/2010 – Regarding continuation of anti dumping duty on imports of narrow woven fabrics
Custom Notification No 45/2010 – Regarding anti dumping duty on Acetone originating in, or exported from Thailand and Japan
Custom Notification No 44/2010 – Regarding exemption to Cotton waste, all sorts from customs duty
Custom Notification No 43/2010 – Amending Notification No.100/89-Customs, dated 1st March, 1989
Customs Notification No 30/2010 (NT), makes Customs House Agents Licensing (Amendment) Regulations, 2010
Customs Circular No 09/2010, regarding issue of Custom House Agent License
Custom Notification No 29/2010 (NT) amending Notification No. 49/2005-Customs (N.T.), dated the 17th June, 2005
Custom Notification No 28/2010 (NT) amending Notification No. 39/2005-Customs (N.T.) dated 3rd May, 2005
Custom Order Appointing Common Adjudicating Authority in the case of M/s Health Impex, New Delhi and others
Custom Notification No 42/2010, Regarding anti dumping duty on Polytetrafluoroethylene (PTFE) originating in, or exported from China
Custom Notification No. 41 / 2010-Customs- Amending Notification 21/2002 dated 1st March, 2002
Custom Notification No 40/2010- Amending Notification 21/2002 – Customs, dated 1st March, 2002
Custom’s Notification No 27/2010 (NT)- Amending Notification No. 36/2001 – Customs (N.T.), dated, the 3rd August, 2001
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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