Custom Duty
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Clearance of uncleared Ports amd Air Cargo Complexes.
Clearance of cellular phones and battery cells in the guise of plastic buttons – modus operandiregarding.
Diamond GEm & Jewellery Export Promotion Scheme – Amendments regarding.
EXIM Policy, 1997 2002, incorporating amendments upto 31.3.99 aligning of customs provisions – Regarding
This notification exempts goods imported against an anual advance licence
Notification No. 42/1999-Customs, Dated: 28-4-1999
This notification exempts specified goods imported for use in the manufacture of gems and jewellery for export by the holder of Replenishment Licenses
Levy of Cess on imported sugar – Clarification reg.
Facility for permitting imports under DEPB Scheme at Customs bonded warehouses through TRA procedure regarding.
Carriage of domestic Cargo in Air-India Flights.
This notification imposes anti dumping duty on Fused Magnesia originating in or exported from People”s Republic of China
Circular No. 14/99-Custom Duty Dated 15/3/1999
Circular No. 13/99-Custom Duty Dated 15/3/1999
Circular No. 12/99-Custom Duty Dated 15/3/1999
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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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