Custom Duty
Log in to FollowCustom Duty Meaning, Calculators, Rules, exemptions Articles Notification, Circulars, Recent Changes, Duty Drawback Rates, Custom Rates, Anti-Dumping Duty
Amends Notification No.12/97-Customs (N.T.), Dated: 2.04.1997
CORRIGENDUM to Notification No. 37/2003-Customs (N.T.), Dated: 03.06.2003
CORRIGENDUM to notification No. 118/2009 – Customs (N.T.), Dated: 06.08.2009
Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2008, issued under the Environment (Protection) Act, 1986 (29 of 1986)
Seeks to extend validity of Notification No. 96/2007-Customs dated 29.08.2007, upto and inclusive of 18.03.2013
Seeks to levy definitive ADD on phosphoric Acid of all grades when imported from Israel and Taiwan
Seeks to rescind the notification no. 04/2012-Customs ADD, Dated: 13.01.2012
Seeks to amend Notification 12/2012-Cus, Dated: 17.03.2012
Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001 vide Notification No. 30/2012 -Customs (N.T.)
Amends Notification No. 101/2004-Customs (N.T.), dated the 31st August, 2004 vide Notification No. 29/2012 – Customs (N. T.)
Anti-dumping duty on imports of non radial bias tyres, tubes & flaps originating in, or exported from, China PR and Thailand
Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012, for using re-credited 4% CVD (SAD) amount in DEPB-Regarding
Notification No. 28/2012 – Customs (N.T.) Dated: 28.03.2012
Notification No.24/2012-Customs – Seeks to amend Notification 12/2012 – Customs, Dated: 17-.03.2012
Latest Custom Duty News
Read all the headlines and latest custom duty news, updates and announcements regarding Customs Act, changes in custom duty rates and custom duty challans only at Taxguru.com
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.
