Custom Duty
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Notification No. 19/2009-Customs duty (N.T.) , Dated: 30.01.2009
Notificcation No. 19/2009- Custom Duty amending various Notification and Provisions
Amends Notification No. 52/2003-Customs, Dated the 31st March, 2003
Testing of samples of Hazardous wastes from the laboratories recognised under the Environment (Protection) Act, 1986- reg
Exemption to specified goods imported on procured by EOU’s, STP Units, EHTP units etc. for specified purposes
Notification No. 17/2009-Custom Duty, Dated: 19.02.2009
Notification No. 16/2009-Custom Duty, Dated: 19.02.2009
Notification No 15/2009-Custom Duty Dated: 19.02.2009
Notification No. 14/2009-cutoms Duty, Dated: 19.02.2009
Circular No. 08/2009-Custom Duty, Dated: 16.02.2009
Notification No. 13/2009-Custom Duty Dated: 11th February, 2009
Notification No 12/2009-Custom Duty, Dated: 10.02.2009
Amends No. 21/2002-Customs, Dated: 01.03.2002
Amends Notification No.66/2008-Customs, dated the 10th May, 2008
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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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