Custom Duty
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Wheel loaders are classifiable as front-end shovel loaders hence covered under CTH 8429 5100
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Refund was allowable under Notification No. 102/2007-Customs on Commercial Invoices even if without SAD Endorsement
CBIC Notifies Voluntary Post-Clearance Customs Revision Regulations
Export duty of Iron Ore to be charged based on Wet Metric Ton for period prior to 1st May 2022
Refund claim of excess CVD filed after one year is rejected as time barred
CBIC Amends ECTS Rules for Nepal Cargo Transhipment
CBIC Dismantles Cyber-Fraud Network; WCO Elects Indian Official
CBIC Notifies New Food Import Entry Point: Kannur Airport
Cap Sub Assembly for Door Outside Handle is classifiable under CTH 8708 29 00
Bail Granted in ₹2.58 Crore Gold Smuggling Case After Over a Month in Custody
No Value Loading When Imports from Related Parties Not Proven: CESTAT Chennai
Delhi HC Sets Aside CESTAT Order for Lack of Reasoned Findings
Madras HC Grants Bail to Accused in Rs. 2.58 Crore Gold Smuggling Case
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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