Custom Duty
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Gun Shape Metal Cigarette Lighters cannot be covered as replica of arms: Confiscation set aside
Re-classification of goods not sustained as burden of proof not discharged: CESTAT Mumbai
Delhi HC Directs Customs to consider request for Re-Export of Detained Gold
Passenger’s non-appearance cannot prevent issuance of Customs SCN
Delhi HC Allows ITC/Customs Appeal Before CESTAT With Partial Pre-Deposit
Customs SCN waivers on pre-printed forms do not constitute informed consent: Delhi HC
Verbatim reproduction of contents of show cause notice without independent reasoning not tenable
Double payment of amount of customs duty is only deposit hence time limit for refund doesn’t apply
Interest u/s. 75A payable after expiry of one month of let export order till date of payment of drawback
Overseas exporter couldn’t be penalized for Importer’s Undervaluation
Delhi HC Orders Release of iPhones Detained by Customs without SCN
CESTAT Kolkata Remands Appeal Over Non-Receipt of Order-in-Original
CAAR Mumbai Rules on MOOWR & IGCR Benefits for Mobile Phone Manufacturers
CAAR Mumbai Classifies Vacuum Circuit Breaker Parts Under Customs Tariff
Latest Custom Duty News
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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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