Custom Duty
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Girls’ Slips Classifiable as Knitted Undergarments Due to Lack of Bust Support: CAAR Delhi
Non-Ionic Surfactant Classifiable Under CTH 3402 Due to Surface-Active Properties: CAAR Mumbai
Optional SIM Connectivity Not Enough to Treat Portable Computers as Telecom Devices: CAAR Delhi
CAAR Delhi Rejected Advance Ruling Application Due to Unrectified Procedural Defects
Flaxseed Extract Classified as Vegetable Extract, Not Medicament: CAAR Delhi
Microencapsulated Iron Classified as Food Supplement Under Customs Tariff: CAAR Delhi
Animal Feed Premix Classified Under Heading 2309 Due to Exclusive Feed Use: CAAR Delhi
Counterfeit Goods Can’t Be Treated as Branded; Customs Value Enhancement Set Aside
Wrong Classification Alone Insufficient to Invoke Customs Section 111(o) Without Exemption Breach
Penetrating Oil Not Diesel Without Proof; CESTAT Set Aside Higher Duty Demand
Customs Penalty Under Section 114AA Set Aside for Lack of Knowledge of Fraud
Customs: Gold Bar Ordered to Be Released as No SCN Issued Within Time
Gold Chain Treated as Personal Effect, Customs Directed to Release Items
Seized Imported Goods Ordered for Provisional Release Pending Adjudication
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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