Custom Duty
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Anti-dumping duty on imports of Ursodeoxycholic Acid (UDCA) imposed
Export duty exempted on Rice in the husk (paddy or rough) of seed quality
Departmental appeal dismissed as time-barred on failure to establish date of receipt of order by reviewing authority
Enhancement of Value of copper scrap on LME price not justified in case of non-acceptance by assessee
Order of higher appellate authority should be followed unreservedly by subordinate authorities
Checklist for Importers/CHA for obtaining manual OOC permission
Clearance of import consignments where duty payment is not reflected in ICES
ADD on Fishing Net originating in or exported from China PR
CBIC notifies Customs Exchange rate for Import & Export wef 07.04.2023
Customs (Waiver of Interest) for technical difficulties on Common Portal
NIDB data cannot be relied if its of different quantity & quality of goods
Manual breast pump classifiable under CTH 39269090
Review of declared price without any evidence that price is influenced is unsustainable
Clearance of perishable cargo- Payment done but not reflected in ICES
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.
Get all the latest custom duty news and updates here at Taxguru. We offer a cohesive and detailed analysis of the relevant updates and announcements related to custom duties. We keep our site updated with all the latest updates, announcements and news on custom duty. Get to know about all the changes and updates to the custom duty challan and other such specific details.
