Custom Duty
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Empty Atomizers Seized; Delhi HC Examines E-Cigarette Act Applicability
Delhi HC Directs Customs to Release Arab Minor’s Childhood Jewellery
Personal Jewellery of Non-Resident Passenger Not Liable for Confiscation: Delhi HC
Delhi HC Directs Customs to Serve Notices via Email
Delhi HC Orders Release of Detained Gold in Customs Case for Procedural Lapses
Suppression of facts: Delhi HC Upholds Customs Fine for Improper Gold Import
Redemption Fine & Penalties: CESTAT Chennai Remands Case for Reconsideration of Judicial Precedents
CESTAT Kolkata Reduces SAIL’s Customs Penalty from ₹44 Lakh to ₹2.25 Lakh
Department’s Classification not acceptable Without Conclusive Evidence: SC
Customs Brokers Not Liable for FCL Contents Without Misdeclaration Knowledge
Anti-dumping duty imposition not end with disclosure statement publication: Delhi HC
Passing 3 contradictory orders by CESTAT in same appeal not justified: Delhi HC
Customs Broker not required to verify correctness of certificates issued by government officer
‘Receiver’ being part of phone is classifiable under CTH 8517: CESTAT Chennai
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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