Custom Duty
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Confiscation quashed as no evidence established smuggled nature of Silver Granules
Motorola Push-to-Talk Devices Are Telephones, Not Network Equipment: CAAR Delhi
Aircraft Ground Support Units Classified as Aircraft Parts: CAAR Delhi
Decorative PVC and PS Wall Panels Classified Under CTH 3921: CAAR Delhi
Optical Transceivers Are “Parts” Under Tariff Item 8517 79 90, Eligible for Nil Customs Duty
Photography flashlights which produces flash for short duration is classified under CTH 9006
Exemption notification 46/2011 Cus. benefit not admissible without valid AIFTA certificate
CBIC Shifts Look Out Circulars to Online Portal
CBIC Newsletter: S-CORD Revival, Gold Smuggling Bust, Drone Seizure
Goods cleared to industrial consumers not leviable to MRP based assessment u/s. 4A of Central Excise Act
DGCEI appointed as officer of Customs hence authorize to demand differential duty u/s. 28
HSN classification for bamboo pulp paper products & bamboo/wooden kitchenware
CAAR Mumbai Clarifies Customs Classification for Bamboo Pulp-Based Paper Products
Climatic Test Chambers Classifiable Under CTH 9027 as Physical Analysis Apparatus
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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