Custom Duty
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CESTAT Sets Aside Customs Duty Demand by Invalidating DRI Rejection of Origin Certificates
Madras HC Quashes Duty Drawback Demand Raised After 12-Year Delay
CESTAT Sets Aside Confiscation of Exotic Birds for Lack of Smuggling Proof
CESTAT Quashes Confiscation of Gold for Curable Advance Authorisation Lapse
Defective PSIC Alone Cannot Justify Confiscation of Imported Scrap: CESTAT Chandigarh
Delhi HC Affirms Confiscation of Gold Brought Without Declaration
SC Dismissed Revenue Appeal on Quicklime Classification Under CTH 2522
CESTAT Allows Classification of Imported Quicklime Under CTH 2522 10 00
CESTAT Kolkata Sets Aside MOOWR Interest Demand, Intended Use of Capital Goods Is Sufficient
Karnataka HC Directs CISF to Provide Complete Airport CCTV Footage to Petitioner
Quick Lime Held Classifiable Under CTH 2522, Duty Demand Set Aside: CESTAT Kolkata
Quicklime with Less Than 98% CaO Not Classifiable Under Heading 28.25: CESTAT Delhi
Quicklime Containing Less Than 98% Calcium Oxide Classifiable Under CTH 2522: CESTAT Mumbai
Classification Dispute No Ground to Deny Provisional Release for Re-Export: CESTAT Chandigarh
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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