Custom Duty
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Air Canada Added Under Customs Notification
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Tariff Value for Edible Oils, Brass Scrap, Areca Nut, Gold & Silver wef 1st July 2025
Redetermination of value under Custom without rejecting transaction value cannot be sustained
Statement recorded u/s. 108 cannot be considered as evidence u/s. 138B of Customs Act
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No Proof of Misdeclaration/Overvaluation: Penalty on Diamond Firm Director quahed
Non-Speaking Order: CESTAT Remands Import Misdeclaration Case
No demurrage & detention charge Waiver Beyond 60 Days: CESTAT Ahmedabad
Madras HC Upholds Shipping Bill Conversion Beyond Time Limit
Madras HC Directs Customs to Decide Provisional Release Plea as per SC Judgment
India Imposes Countervailing Duty on Printing Plates
Penalty for Non-Verification of Export Credentials Must Be Under CHALR, Not Customs Act
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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