Custom Duty
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Assessable Value of Goods Imported under Deferred Payment
EOUs – Traqnsparent Procedure for operation of units under 53/97-Cus – 13/81-Cus Rescinded
CRGO/ CRNGO Steel Sheets/ Strips in Coil – No Concessional Duty under Sl. No. 105 of Notif. No. 11/97-Cus.
Duty Drawback-Certificate of Non-availment of Modvat Credit
Charitable goods duty free import – Certificate about the organisation and distribution – District Magistrates / AC Excise Expowered
This notification exempts the goods imported for the purpose of manufacture of articles for export or for use in a 100% EOU
DEPB Scheme – Present Market Value (PMV) of Export Goods – Parameters for Verfication by Customs
Import of Goods for Re-export after processing, repairing etc.- Period of re-export to be reckoned from date of clearance
New Duty Drawback Rates – Instructions
This notification exempts petroleum crude from the levy of Additional duty
Notification No. 49/1997-Customs, Dated: 23-5-1997
Circular No. 12/97-Custom Duty Dated 12/5/1997
Circular No. 11/97-Custom Duty Dated 8/5/1997
This notification exempts goods imported against an Advance License from levy of Anti dumping duty
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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