Custom Duty
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CBIC Revises Customs Tariff Values for Gold, Oils, Scrap wef 1st Nov 2025
Consolidation of Customs Notifications applicable w.e.f. November 01, 2025
Commissioner of Customs cannot reassess duty for clearances effected from warehouse
CBIC Clarifies No Revision Needed Where Separate Reversal Procedure Exists – Effective 1st Nov 2025
Customs Voluntary Revision Regulations for Post-Clearance Entries
Customs Fee Set for Voluntary Revision of Entries Post Clearance
CBIC Amends Customs Notification 26/2022: Adds Section 18A
Customs Advance Ruling Inductor classifiable Under CTI 85045090: CAAR Mumbai
Customs Housing Agent must exercise due diligence over wrongdoings of employees
Sea Cargo Manifest and Transshipment (Fourth Amendment) Regulations, 2025
CESTAT Chennai Reduces Redemption Fine & Quashes Penalty in Used Machinery Import Case
Delhi HC Allows Delayed Customs Appeal over Seized USD 15000
A bold step towards Customs Simplification- Notification No. 45/2025
Nil Duty on Yellow Peas Imports Extended Only Till October 31, 2025
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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