Custom Duty
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Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996
DEEC Scheme – Revised Norms of Execution of Bond and Bank Guarantee for Custom
Conversion of DEEC Shipping Bill to Pass Book Shipping Bill – Clarification
Pass Book Scheme – Examination Report on invoice / AR4
Drawback on Hangers Supplied with Garments
Conversion of DEEC SBs into Passbook SBs
Notification No. 51/1996-Customs, Dated: 23-7-1996
Notification No. 50/1996-Customs, dated: 23-7-1996
Notification No. 49/1996-Customs, Dated: 23/07/1996
This notification exempts articles imported against an Annual advance License from the levy of Anti dumping duty
This notification notifies projects for assessment under heading 9801
This notification exempts specified goods imported by Defence and internal security forces.
This notification exempts specified goods of Bhutanese or Indian origin
EPCG / DEEC Scheme – Monitoring of Export obligation
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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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