Custom Duty
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Customs Order Set Aside Due to Lack of Evidence Linking Parts to Complete Drones
Rubber Mixture Classifiable Under 40028090 Due to Absence of Prohibited Additives: CAAR Mumbai
Plant Extract Classifiable as Medicament Due to Therapeutic Use & Processing: CAAR Mumbai
CAAR: Classification of Polymer Sheet Goods Under 3921 Tariff Headings
Seizure of imported ‘Roasted Areca Nuts’ based on contradictory CRCL report not tenable
Bombay HC Allows RoDTEP Benefit on Sugar Exports Despite ‘Restricted’ Policy, Orders Refund with Interest
Duty Drawback Rate of Gold jewellery & Silver Jewellery/Articles revised
Hirnoda (Jaipur) Notified for Import Export Handling, Kishangarh Entry Renumbered
Instructions for time bound processing of RoDTEP and RoSCTL scrolls
Charging cases for Hering aids without built-in power conversion not classifiable as static converters
CESTAT Remands Case Due to Ambiguity in LOP Affecting Duty Exemption
Duty Demand Quashed: DGH Certificate Cannot Add Conditions Beyond Notification
Customs Exemption Allowed Without Correlation for Non-Sensitive Inputs but Subject to DFIA Conditions
Advance Ruling Rejected as preserved areca nuts Classification Issue Already Settled by HC
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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