Custom Duty
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Department failed to discharge burden of proof for classifying ECU under 8708 9090: CESTAT Chennai
Officers of DRI entrusted to issue notice for recovery of duty u/s. 28 of Customs Act: Supreme Court
Customs Notification No. 82/2024: Updated Border Haat Goods List
Seized goods liable to be returned back due to non-issuance of notice u/s. 124 of the Customs Act
Application of cross-examination without filing of defence reply is not allowable: Madras HC
Mandatory Qualifiers for Coal Import Declarations w.e.f 15.12.2024
Conditional bail granted to accused involved in smuggling of foreign origin gold: Patna HC
Penalty for Smuggling Battery Scrap Through Un-notified Route: CESTAT Allahabad
No Interest on Refund When Assessment Finalized Within Section 18(4)Timeframe: CESTAT Chandigarh
Minor Procedural Lapses not Ground for denying SAD Refund: CESTAT Chennai
Refund of redemption fine and penalty directed due to delay in de novo proceedings: Madras HC
Customs duty exempt on manufacturing of stainless steel coils under Advance Authorisation Scheme
Classification of Clear Float Glass under Customs Tariff Act
Foreign Food Manufacturing Facility Registration Requirement
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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