Custom Duty
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Notification No. 151/2009-Customs – Exempts certain goods from whole of the duty of customs when imported into India from the Republic of Korea
Custom duty notification amending notification No. 10/2008-Customs dated the 15th January, 2008
Custom duty notification amending principal notification No. 68/2006-Customs, dated the 30th June, 2006
Custom duty notification amending principal notification No. 67/2006-Customs, dated the 30th June, 2006
CBEC amends tariff value of Brass Scrap and Poppy seeds by Notification No. 188/2009-CUSTOMS (N. T.)
Notification No. 187/2009-Customs (N.T.) Date 31.12.2009
Custom-Exchange-Rate-Import-Export-January-2010
Instructions on Implementation of the Cigarettes and other Tobacco Products (Packaging and Labelling) Rules, 2008
Custom Duty circular on Application of Kimberley Process Certification Scheme (KPCS) to Semi- cut diamonds
Introduction of new entries in the Drawback Schedule and clarification on certain issues
Amends Notification No. 79/2008-Customs, dated the 13th June, 2008 – Regarding exemption to iron ores and concentrates
Circular on Exemption to iron ore fines from Customs duty when exported out of India
Custom duty circular Rescinding Notification No. 129/2008- dated 7th December, 2008
Regarding anti dumping duty on Cathode Ray Colour Television Picture Tubes originating in, or exported from Malaysia, Thailand, China PR and Korea RP
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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