Custom Duty
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CESTAT Upholds Customs Duty on Crude Shea Butter, Citing Non-Edible Grade
Tagging Exporter as ‘Risky’ Without Adjudication Questioned by Madras HC
No Extended Limitation Without Suppression: CESTAT in DG Set Re-Import Case
Customs Notifies New Officers and entry points for Food Imports
Exemption from customs duty was allowable on goods used as implants or rehabilitation aids
Invoice Mismatch & lack of duty payment proof – CESTAT Upholds Gold Confiscation
Chennai Customs RoDTEP Claim Amendment Process
Classification as ‘Newsprint’ under CTH 480180 adopted as tests not conducted as per ISO
Order revoking customs broker licence passed without adhering to timelines specified in CBLR cannot be sustained
Anti-Dumping Duty Extended on Black Toner Powder Imports
CBIC-NFSU MoU and Customs Certificate Automation
Delhi HC Lowers Areca Nuts Release Terms from ₹10 Cr to ₹50L
India’s Steel Import Monitoring System: NOC Challenges
Customs Settlement Commission: Tenure Notification
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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