Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Crude palm kernel oil edible grade eligible for customs duty exemption
Special Valuation of Goods Under Indian Customs Law: A Lawyer’s Perspective
Delhi HC Denies Waiver for CHAs accused of facilitating Undervaluation of Imports
Concessional Custom Duty Denied on Fire-Damaged Materials, Penalties Cancelled
Steam coal imports from Indonesia is not overvalued: Appeal of department dismissed
Rice-Based Alcohol Not Treated as Beer Due to Absence of Malt: CAAR Delhi
Concessional Duty Allowed Only for Structural Phone Components: CAAR Delhi
Delhi HC Orders Unconditional Release of Gold for Lack of Customs Section 110 SCN
516gm Gold Chain Not Personal Effect: Delhi HC Upholds Customs Confiscation
Import of parts of e-rikshaw without essential components not to be presumed as import of e-rikshaw in CKD/SKD
CESTAT Upholds Penalties for Illegal Removal of Seized Goods Under Customs Act
CESTAT Upholds ₹10 Lakh Penalty on Customs Broker for Benami, Unauthorised Shipping Bills
CESTAT Sets Aside Confiscation as BIS Order was Not in Force at Time of Import
Royalty and licence fees paid by Xiaomi India is includible in transaction value
Latest Custom Duty News
Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com
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.
Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.
