Custom Duty
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Export of Garnet is restricted vide DGFT notification dated 21.08.2018 irrespective of its origin
SCMTR Transition Extended to March 2026 for Smooth Cargo Compliance
Anti-Dumping duty imposed Against Dumped Low Ash Metallurgical Coke
Customs Tariff Values Notified for Palm Oil, Gold and Silver wef 1st January 2026
Penalty u/s. 114A since covered under regulation 3 (2) (c) hence License for Private Warehouse u/s. 58 not granted
Sea Cargo Manifest and Transshipment (Fifth Amendment) Regulations, 2025
Power of revocation of detention orders not vested with detaining authority under COFEPOSA Act
Customs Orders Video Recording of Passenger Interactions at Airports
Customs duty exemption under notification 1/95-CE not granted as value addition condition not fulfilled
CBIC notifies Second tranche of tariff concessions under India-EFTA (Iceland)
CBIC notifies second tranche of tariff concessions under India-EFTA (Norway)
CBIC notifies second tranche of tariff concessions under India-EFTA (Switzerland)
CBIC notifies fifth tranche of tariff concessions under India-Australia ECTA
Safeguard Duty Imposed on Steel Flat Products for Three Years
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.
