Custom Duty
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Electric Motor Parts Not Classifiable as Auto Parts Due to Chapter 85 Exclusion: CAAR Mumbai
Watch Bands Classified Under Heading 9113 Because They Only Fasten Device to Wrist: CAAR Mumbai
Customs Broker licence revoked for filing benami shipping bills to export prohibited goods
Shipping Bill Conversion Allowed Because Limitation Act Does Not Apply: CESTAT Mumbai
Bombay HC Raps Customs for Non-Speaking Order, Calls It Dereliction of Duty, Imposes Costs
Delhi HC Calls Passenger Fight for 21g Gold Ring Unreasonable, Slams Customs, Imposes ₹5k Costs
Customs Appeal Restoration Refused After 21 Years Due to Non-Payment of Pre-Deposit: Delhi HC
Customs Adjudication Not Invalid Merely for Non-Communication of Time Extension: Delhi HC
Seizure of Indian Currency u/s. 110 of Customs Act without issue of notice within prescribed time is untenable
Customs Penalty Quashed Due to Uncorroborated Co-Accused Statement: CESTAT Kolkata
Supplementary Drawback Claim Not Time-Barred When Cause Arose on Re-Valuation Date
Custom Writ Dismissed for Bypassing Statutory Appeal Without Exceptional Grounds
Penalty Quashed for Lack of Knowledge in Misuse of Signed Export Documents
Presumption Alone Cannot Justify Seizure of Indian-Origin Goods as Illegal Export
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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