Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
The notification exempts T.V. sets and combination thereof from the levy of Additional duty leviable under 5Th schedule to Finance Act 1985
The notification exempts specified goods imported against Advanced License
The notification exempts specified goods imported under Quantity Based Advanced License
The notification exempts specified goods imported under Value Based Advanced License
The notification exempts capital goods imported under EPCG Scheme
The notification exempts specified goods exported by 100% EOU operating in EHTP and STP
The notification exempts specified goods exported by 100% EOU operating in EHTP and STP
Shipping Bill & Bill of Export (Form) Regulations, 1991
Exemption to specified goods imported for manufacture of jewellery for export by hundred per cent export-oriented undertaking
Ata Carnet (Form of Bill of Entry & Shipping Bill) Regulations, 1990
Notification exempts specified goods imported for display or demonstration under an ATA Carnet
This notification provides effective rates of duty on specified goods imported as baggage
This notification provides effective rates of duty on goods imported as baggage
Notification No. 236/89-Customs, dated: 01.09.1989
Latest Custom Duty News
Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com
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.
Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.
