Custom Duty
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CESTAT directs department to verify EODC and grant benefits to appellant
Seizure of imported goods: HC directs Custom authorities to consider representation of appellant
CESTAT Quashes Customs Act Penalty (Section 117) Due to Lack of Direct Connivance Evidence
Duty demand for non-fulfilment of export obligation not sustained as extension granted by EPCG committee
Notification No. 63/2023-Customs | Dated: 30th November, 2023
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold & Silver wef 01.12.2023
Madras HC Directs Release of Imported Gold on 100% Custom Duty Payment
Customs Duty Exemption on ‘Boron Ore’ import: CESTAT directs de-novo adjudication
Custom/NDPS Proceedings cannot be quashed for Typographical Error: Madras HC
Madras HC Ruling on Gold Smuggling Abetment & Violation of Natural Justice
EOU permitted to destroy obsolete goods on payment of duty on scrap value
Madras HC Directs Release of Gold After Custom Duty Payment
No Malafide Intent Found: Allegation of Suppression in SCN Not Sustainable
Madras HC directs department to verify & Rectify Shipping Bill Error
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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