Custom Duty
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Department not provided details of computation of demand of duty: CESTAT directs re-adjudication
Quantity of bulk liquid cargo actually received into a shore tank should be the basis for payment of customs duty
Exemption of deposits from provisions of Section 51 of Customs Act, 1962
Notification to exempt deposits into ECL till 19th January 2024
Tariff Values for Edible Oils, Brass Scrap, Areca Nut, Gold & Silver wef Nov 29, 2023
Commissioner (A) inadvertently treated appeal as time barred hence matter remanded back
Customs Offense: HC Allows Revision Petition as Appeal Disposed Without Hearing
Royalty cannot be included in Transaction Value under Customs Valuation Rules, 2007, Once Arm’s Length Price Accepted
Demurrage charges not to be considered in customs valuation: CESTAT
CESTAT Quashes Penalty on CHA in Red Sander Goods Illegal Export Case Due to Lack of Direct Involvement
CESTAT allows Import duty benefit of Notification No. 21/2002 for snap fasteners
Appointment of Common Adjudicating Authority: Goldripe International Pvt. Ltd.
Gold not liable for confiscation as revenue failed to prove that gold is smuggled one
Anti-dumping Duty on imports of Natural Mica-based Pigments from China
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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