Custom Duty
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Underground Mining Truck classifiable under CTH 8704 1010
Biopesticides classifiable under chapter 38: CAAR
CAAR cannot give ruling on a issue already pending before an officer of customs
Classification for import of Stainless Steel Scrap – CAAR rejects application as infructous
API/chikni/unflavoured/flavoured & boiled supari classifiable under heading 0802
Measuring devices, namely flowmeters merit classification under heading 90.26
CBIC Notifies Rate of Exchange of Foreign Currencies wef 03.09.2021
Intermediate Bulk Containers merit classification under heading 86.09
Synthetic Rubber in Primary Form merit classification under heading 40.05
CAAR Mumbai allowed ‘King Kaveri Trading Company’ to withdraw application
AAR application under customs can be for only one good
Tello drones with or without camera would merit classification under heading 9503
Customs Interest cannot be waived unless such provision provided in Customs Act
Bluetooth module classifiable under CTH 8517 62 90
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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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