Custom Duty
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This notification relates to Customs Tariff (Determination of Origin of Other Preferential Areas) Rules, 1977
This notification relates to Customs Tariff (Determination of Origin of Goods under the Bangkok Agreement) Rules, 1976
This notification relates to Boat Notes Regulations, 1976
This notification relates to Bill of Coastal Goods (Form) Regulations, 1976
This notification relates to Import Report (Form) Regulations, 1976
This notification relates to Export Report (Form) Regulations, 1976
This notification relates to Export Manifest (Vessels) Regulations, 1976
This notification relates to Customs Tariff (Determination of Origin of the United Arab Republic and Yugoslavia) Rules, 1976
This notification exempts gifts or free samples when exported by air
This notification exempts samples of mica etc. when exported by post
This notification exempts specified goods falling under heading 98.04 from the levy of Additional duty
This notification exempts vehicles and components parts covered under Customs Convention on the temporary importation of private road vehciles
This notification exempts specified goods imported by post on approval or return basis
This notification relates to Bill of Entry (Forms) Regulations, 1976
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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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