Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
FAQs on Customs Duty, Tariff Rationalization & Duty Changes by Budget 2025
Indirect Tax Internship Scheme for FY 2025-26 in CBIC
Customs Notification 07/2025: Quarterly Reporting Rules
Customs Notification 13/2025: Amendment to Import Rules
Customs Notification 12/2025: Ammunition Import Amendment
Budget 2025 Amends Duty Exemption for Lithium Battery
Budget 2025: Changes in BCD Rates for Mobile Parts
Budget 2025: Exempting specific drugs supplied under Patient Assistance Programs by leading pharmaceutical companies
Customs Notification 08/2025: Import Duty Revisions
Govt exempt specified goods from whole of levy of Social Welfare Surcharge
Budget 2025: Govt notifies effective rates of AIDC to certain goods
Budget 2025: Govt notifies BCD related changes
Budget 2025: Customs Duty Exemptions on Rationalized Tariff Goods
Budget 2025: Export Duty Reduced on Crust Leather
Latest Custom Duty News
Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com
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.
