Custom Duty
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The notification exempts food stuffs and provisions by a foreign person
The notification exempts specified goods from levy of export duty
The notification exempts the goods imported for display / demonstration in a trade / industrial fair / exhibition etc
This notification exempts specified goods imported by 100% EOU situated in the special Export Oriented Complex at Jhandewalan at New Delhi
This notification relates to Project Import Relations, 1986
This notification exempts all the goods falling under Heading No. 98.03 from the levy of additional duty
Exemption of Goods in Chapter 99 from Additional Duty
Notification No. 204/84-Customs Dated: 20th July, 1984
This notification relates to Customs House Agents Licensing Regulations, 1984
Notification No. 326/1983-Customs, dated: 23.12.1983
The notification exempts specified goods re-imported into India
Notification No. 151/1982-Customs
This notification declares specified countries as preferential area
This notification relates to Customs Tariff (Determination of Origin of Other Preferential Areas) Rules, 1977
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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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