Custom Duty
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Seizure unjustified as not established that gold jewellery is of foreign origin
Customs Act Amendments: Key Changes in Notification No. 55/2023-Customs
Amendment of Notification No. 50/2017-Customs: Revised Provisions
Notification No. 66/20003-Customs (N.T.): New Entry for Maia in Murshidabad, West Bengal
CBIC Norms for Cost Recovery Charges Exemption at AFS
CCAR Ruling: Exemption Benefit for Imported Off-Highway Equipment Turbochargers
CAAR Ruling: Applicability of Duty Rates for X-Ray Tube & Spare Parts
Revocation of Customs Broker Licence unjustified without active or passive facilitation in mis-declaration/ undervaluation
Non-allowance to cross-examination person whose statement is relied upon makes entire adjudication proceedings bad
Allegation of undervaluation of imported goods based on retracted statements unsustainable
Commissioner (A) cannot change product classification without affording opportunity
Smuggling of contraband gold from third country of origin liable to absolute confiscation
CESTAT Bangalore allows refund of Additional duty paid on Timber Import
HC quashed order denying Duty Drawback without considering uploaded BRS
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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