Custom Duty
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Anti-dumping duty on Acrylic fibre originating in, or exported from Japan Spain, Portugal and Italy
This notification imposes anti dumping duty on Lovastatin originating in or exported from People”s Republic of China
This notification imposes anti dumping duty on Ortho Chloro Benzaldehyde originating in or exported from People”s Republic of China
Drawback-Period of payment reduced from 3 to 2 months – interest on delayed payment
This notification exempts specified goods imported from Pakistan or Bangladesh
This notification imposes safeguard duty on Propylene Glycol
This notification imposes safeguard duty on Flexible Slabstock Polyol of specified grade
Special Additional Duty of Customs (SAD) – Goods for sale are exempted and need no debit in Passbook
nterwork Interface Unit (NIV) is eligible for Duty concession under Notification No. 23/98-Cus.- Boards Circular No. 70/98 dt. 15/98 superseded
DEPB – Import (but not export) can be made on any seaport / airport/ ICDs against TRA
This notification notifies specified Countries as developing countries for the purposes of the levy of safeguard duty
This notification imposes safeguard duty on Acetylene Black
IV Circular No. 90/98- Custom Duty Dated 8/12/1998
Export-Import Cargo-simplified Procedure at ACCs
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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