Custom Duty
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Circular No. 11/99-Custom Duty Dated 10/3/1999
Circular No. 10/99-Custom Duty Dated 10/3/1999
Circular No. 9/99-Custom Duty Dated 9/3/1999
Circular No. 08/99-Custom Duty Dated 4/3/1999
Admissibility of made ups made out of yarn dyed fabrics for DEPB credit.
This notification exempts specified goods imported by a manufacturer of linear alkyl benzene for extraction of N-Paraffin
This notification exempts specified goods imported for use in electronic industry
Clearance of goods imported by United Nations and its Agencies for execution of the projects financed by them – regarding
Indian Customs EDI Systems – measures to check frauds in disbursement of drawback – Regarding.
Issuance of Show Cause Notice by the Officers of Directorate of Revenue Intelligence – regarding
This notification exempts second hand computers and computer peripherals when received as a donation by specified schools
This notification imposes anti dumping duty on Potassium Permanganate originating in or exported from People”s Republic of China
Availment of Drawback simultaneously with DEPB- Further Clarification
Appointment of offiicers of Directorate of Valuation as officers of Customs
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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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