Custom Duty
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PLC Splitters falls under Customs Tariff Heading 85177990: CAAR Mumbai
Makrofol Polycarbonate Film Classified Under CTI 3920
Customs duty exemption available on import of HIV-VL test kits
Bonafide declaration of value found to be incorrect cannot be concluded as suppression
Star export houses not required to furnish Bank Guarantees in terms of Circular 32/2009-Cus
CESTAT Delhi Rejects Higher Bitumen Import Value
Anti-Dumping Duty on Malaysian Glass Extended till 10th February, 2026
Customs Amends Import Policy for Iridium, Osmium Alloys
Revocation of Customs Broker License upheld in smuggling of huge quantities of gold
Quicklime with purity of Calcium Oxide less than 98% is classifiable under CTH 2522 1000
Lending of IEC is not an offence under Customs Act hence penalty u/s. 114AA deleted
Import of PVC Regrind not restricted under Foreign Trade Policy
Customs Review application dismissed as no mistake or error apparent on face of record: Madras HC
Order for denial of Duty Drawback Claim of 2015 was quashed in absence of issuance of mandatory deficiency memo u/r 13(3)(a)
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.
Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.
