Custom Duty
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Procedure to be followed by Commissioner of Customs while forwarding SLP proposals to the CBEC
EOUs/ EPZU’nits – Work allocation ACs, DCs and Commissioners redefined
Duty on goods after expiry of Ware holusing period
Drawback recovery on export where sale proceeds not realized
Vegetable oils of edible grade incluvegetable oils fit for human consumption – Eligible to duty exemption under Notif. 11/97-Cus.
DEPB – Import can be made at any of four ports even if registration is at one port under TRA system
Gold etc. import procedure for MMTC/STC/SBI/HHEC for exporters
Customs clarifications on EXIM Policy provisions covering DTA sales by EOUs/ EPZ units and personal carriage of samples of jewellery /stones
EOUs/ EPZ Units – Rough Diamonds re-export up to 5% of import of indigenous procurement permitted
Software Tech. Park Units – Use of Computers for Training
Misuse of Notif. 64/88-Cus for import of hosital/medical equipment-Recovery of customs duty
Advance Noting of Bill Entry-Procedure Announced
Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997
EOUs-Imports of fuel lubricants and consumable, allowed freely on customs/ DC’s approved
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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