Custom Duty
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This notification relates to Customs (Publication of Names) Rules,1975
This notification relates to Shipping Bill for Aircraft Spares Ex-bond Regulations, 1975
This notification relates to Uncleared Goods (Bill of Entry) Regulations, 1972
This notification relates to Denaturing of Spirit Rules, 1972
This notification exempts specified goods imported temporarily for the purposes of scientific research and education
This notification relates to Import Manifest (Vessels) Regulations, 1971
This notification relates to Levy of Fees (Customs Documents) Regulations, 1970
This notification exempts defective articles imported into India which are private personal property
This notification relates to Notified Goods (Prevention of Illegal Import) Rules, 1969
This notification relates to Specified Goods (Prevention of Illegal Export) Rules, 1969
This notification relates to Baggage (Transit to Customs Stations) Regulations, 1967.
This notification exempts goods which are private personal property and have been re-imported
This notification relates to Manufacture and Other Operations in Warehouse Regulations, 1966
This notification relates to Passenger”s Baggage (Levy of Fees) Regulations, 1966
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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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