Custom Duty
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UPSS classifiable under 8543.89 CTA and 8543.00 of CETA
Discharge of Export Obligation under DES/ EPCG Scheme – Licensing authority to be monitoring agency
Conversion of DEEC Shipping Bill to Pass Books Shipping Bills – Procedure of
Circular No. 21/96-Custom Duty Dated 16/4/1996
Circular No. 20/96- Custom Duty Dated 4/4/1996
Maintenance free Batteries import against licence only
Machinery etc. for ammonia unit for captive consumption is entitled to exemption
Passbook Scheme – Declaration on un prescribed form
DEEC Books – Documents specified for avoiding Logging delays
EOUs/ EPZ Units – Removal of scrap for conversion into ingot cannot be done without payment of duty
Classification of hydraulic seals / rings
Warehousing of goods- Fresh instructions
Value Based Advance Licensing Scheme – Over valuation of import items in the application for Advance Licence
Drawback -Time limit for filing claim
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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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