Custom Duty
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CESTAT Quashes Incorrect Classification of ‘Line Extender’ as Broadcast Signal Amplifier
Notification No. 55/2023-Customs (N.T.) | Dated : 21st July, 2023
CESTAT Kolkata Upholds Confiscation of Betel Nuts and imposition of Penalty
Confiscation of Gold Bars & Penalty based on Retracted Statements Unsustainable
Classification of Flexible Intermediate Bulk Containers – CESTAT Remanded Matter
Illegally Imported Goods without Valid Liable for Confiscation u/s 111 of Customs Act
SAD Refund Granted: Accounting procedures usually include past periods: CESTAT
CESTAT allows Refund Claim Appeal for Custom Duty amid Covid-19 Delays
No Maximum Penalty for Violating CBLR Provisions without License Revocation
Exchange Rates for Imported & Exported Goods with effect from 21st July, 2023
Unfair Suspension of Customs Broker License: Director’s Judicial Custody Prevented Representation
Actual use of inputs and quantities not required for claiming DFIA benefit
Zero Duty Export Promotion Capital Goods Benefit available in absence of simultaneous availment under SHIS
HC Directs Consideration of Refund Applications under Customs Act, 1962 (Section 27 & 27A)
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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