Custom Duty
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Customs Must Refund Bank Guarantee Wrongly Encashed During Appeal: CESTAT Mumbai
CESTAT Mumbai Quashes ₹2.44 Crore Customs Demand for Lack of Proof Against Thai-Origin Goods
Differential Duty for Provisional Release is Not a Pre-Deposit: CESTAT Delhi
CA Certificate was a valid proof to claim 4% SAD refund
Customs offence report need not be penal; 90-day limit starts from its receipt
Anti-Dumping Duty on Flax Fabric Import from China, HK
Delay in Customs Appeals Condoned by Delhi HC with Costs for Punjab Flood Relief
Erroneous Classification Not Ground for Section 112(a) Penalty: CESTAT Mumbai
Delhi HC Orders Release of Seized Gold with Reduced Fine and Penalty
Compound Rubber Unvulcanised Classified Under Heading 40051000: CAAR Mumbai
CAAR Classifies Heat Sinks for Data Center Switches as Parts Under Heading 8517
CAAR Mumbai Classifies Data Center Switch Parts Under Heading 8517 79 90
Excel Sheet recovered email could be relied upon for valuation even without sec. 138C certificate
Wheel loaders are classifiable as front-end shovel loaders hence covered under CTH 8429 5100
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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