Custom Duty
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Clarification on levy of National Calamity Contingent Duty (NCCD) on Cellular / mobile Phones on the basis of MRP / Retail Sale Price – regarding
High Court upset with Terror Tactics of Custom Dept
Amending Notification No. 39/96 –Customs, Dated the 23rd July, 1996
Amends Notification No. 208/77-Customs Duty (N.T.), Dated: 01.10.1997
Notification No. 23/2009 – Customs Duty (N.T.), Dated: 27.02.2009
Amending Notification No. 93/2004-Cus. and 94/2004-cus. to relax actual user condition in respect of Authorisation issued for import of raw sugar
Amends Notification No. 36/2001 – Customs Duty (N.T.), Dated: 03.08.2001
Notification No. 21/2009-Customs Duty Dated: 27.02.2009
Exchange Rate notification for Import / Export of goods wef 1st March, 2009
New Circular on Duty Free Import Authorization (DFIA) Scheme
Rate of Exchange for Import and Export of Goods – supersession of the notification No.18/2009-Customs (N.T.), dated: 28.01.2009
Certification of invoices for supply of goods from DTA to EOUs for claiming deemed export benefits
Amends Notification No. 21/2002-Customs, Dated the 1st March, 2009
Notification No. 20/2009-Customs Duty (N.T.), Dated: 16.02.2009
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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