Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
EPCG/Duty exemption schemes—clarifications; DFRC Scheme – DFRC-cum-DBK SB to be filed
Circular No. 41/2000-Customs, Dated 12.05.2000
Notification No. 36/2000-Customs (N.T.) Dated: 12.05.2000
G&J EP Schemes — clarifications
Notification No. 35/2000-Customs (N.T.) Dated: 12.05.2000
Notification No. 34/2000-Customs (N.T.) Dated:12.05.2000
Notification No. 33/2000-Customs (N.T.) Dated: 12.05.2000
Notification No. 32/2000-Customs (N.T.) Dated:12.05.2000
EPCG/Duty Exemption Schemes — exemption notifications explained
SLP – relevant section of CBEC
EOUs/EPZ Units—CVD on DTA sale of plastic granules manuf. out of plastic scrap & waste
This notification appoints the officers of the Directorate General of Anti-Evasion as officers of Customs
Drawback—arrear clearance month from 15.5.2000 to 14.6.2000
RAGS—- Uniform gudeline for imprt clearance
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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