Custom Duty
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Delhi HC Upholds Customs Valuation Ruling for Lack of Evidence Against Declared Transaction Values
Classification of Assy Guide Rails as Motor Vehicle Parts – CAAR Mumbai Ruling
HID India Pvt Ltd: Classification of Signo Reader under Customs Act
Custom Broker not required to do continuous surveillance at physical address of exporter: Delhi HC
Advance Ruling on Lithium-Ion Cell Imports for Mobile Batteries
Amending non-existing Anti-Dumping Duty notification not sustainable in law: Madras HC
Amendment to Anti-Dumping Duty Notification No. 18/2021
Bank Account Freezing by Customs Authorities Quashed: Rajasthan HC Ruling
Enhancement of value of imported goods based on proforma invoice not valid: CESTAT Chennai
Benefit of concessional rate cannot be denied for technical error in Certificate of Origin: CESTAT Chennai
Customs Notification 83/2024: New Cargo Facility at Dhanakya
Import duty refunded since goods were never cleared for home consumption: Kerala HC
Order directing fixation of brand rates of duty drawback upheld: CESTAT Chennai
Clarifications on IGCR and MOOWR Applicability – CBIC Circular
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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