Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Notification No. 27/2003-Customs (N.T.), Dated: 23.04.2003
Warehousing – Grant of extension of warehousing period by Chief Commissioners under Section 61 of the Customs Act, 1962 – regarding
Administrative Control over Export Oriented Units (EOUs)/Special Economic Zones- Instructions Reg
Notification No. 66/2003-Customs, Dated: 04.04.2003
Anti-dumping Duty on steel and fibre glass tapes, and their parts and components
Self assessment scheme for accelerated clearance of import/export cargo
Circular No. 29/2003-Customs dated 3rd April, 2003
Transmission of import DTRs to DGCI&S by field formations as per the revised 8 digit Customs Classification Codes-reg
Rescinds the notification No. 55/2002-Customs, dated: 22.05.2002
Anti-dumping duty on lead acid batteries
Imports for delivery to an institution, eligibility under notification 51/96-Cus.-reg
Notification No. 26/2003-Customs (N.T.), dated: 01.04.2003
Notification No. 62/2003-Customs, Dated: 01.04.2003
Anti-dumping duty on Sodium hydrosulphite
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.
