Custom Duty
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Aracannuts (supari) import not permissible
Sealing of cargo – Tamper proof bottle seals to be used
UN Agencies Imports – Duty exemption only on goods for official use by the agency and not by individual
EPZ units – Sale in DTA – Subject to excise duty
ICDs / CFSs Movement of Cargo by Road Permitted
SLPs Filing before Supreme Court – Procedure to be followed
Circular No. 75/95-Custom Duty Dated 28/6/1995
Gold/ Silver coins imports allowed to passengers
Airlines crew not covered by baggage rules
Multi-modal Transport Operations not allowed to act as Customs House Agent
Export of goods against repayment of state credits and liquidation of debt repayment arrangements – Clarification
Foreign experts-import (baggage) Not exempt from duty
Circular No. 69/95-Custom Duty Dated 19/6/1995
Public/ Private bonded warehouses procedure liberalised
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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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