2 Custom Duty Notifications

Custom Duty Notifications news

Budget 2023: Explanatory Memorandum to Custom & Excise Duty Notification

Article contains Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023 and Explanatory Memorandum to Notification No. 05/2023-Central Excise, dated the 1st February, 2023 which are notified to give effect to changes proposed by Union Finance Budget 2023-24. Explanatory Memorandum to Notification Nos. 0...

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Government withdraws export duty on Steel

The Central Government has restored the status quo as was prevailing prior to 22nd May,2022 and withdrawn the  export duty  on iron ores lumps & Fines below 58% Fe content,  iron ore pellets and the specified steel products including pig iron. The import duty concessions  on Anthracite / PCI coal, coking coal, coke & semi cok...

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Draft Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2022

Notification No. ___/2022-Customs (N.T.)

Notice calling for suggestions, views, comments, feedback etc. from stakeholders on draft rules pertaining to Customs Valuation of imported goods in terms of recent amendment in Section 14 of the Customs Act, 1962 vide Section 89 of the Finance Act, 2022 Attention is invited to the recent amendment made in Section 14 of the Customs [&hell...

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Join GST, Customs, Excel & Income Tax Courses at 60% Discount

Join Certification Course on GST Compliances, Excel For professionals, Income Tax and Customs, Import & Export by TaxGuru Edu at 60% discount...

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DRI unearths Customs duty evasion of Rs. 4389 crore by Oppo India

During an investigation pertaining to M/s Oppo Mobiles India Private Limited (hereinafter referred to as ‘Oppo India’), a subsidiary company of “Guangdong Oppo Mobile Telecommunications Corporation Ltd”, China (hereinafter referred to as ‘Oppo China’), the Directorate of Revenue Intelligence (DRI) has detected Customs duty ev...

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Advisory for Anonymised Escalation Mechanism under Faceless Assessment

ICEGATE registered users are required to contact the ICEGATE Helpdesk team on the toll free number 1800-3010-1000 to avail the functionality of Anonymised Escalation Mechanism under Faceless Assessment....

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Cess of Rs. 23,250 per tonne imposed on crude; import of crude not to be subject to this cess

Cess of Rs. 23,250 per tonne imposed on crude; import of crude not to be subject to this cess Special additional excise duty/Cesses imposed on exports of petrol and diesel at the rate  of Rs 6 per litre on Petrol and Rs 13 per litre on diesel Special Additional Excise Duty (SAED) of Rs 6 […]...

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Basic custom duty on umbrellas raised from 10% to 20%

Whether it is true that duty on umbrellas is being raised to 20 per cent and exemption to parts of umbrellas is being withdrawn and whether exemption is also being rationalised on implements and tools for agri-sector which are manufactured in India ...

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Import Duty on Cotton

a) whether the Government has received any proposal explaining the need for removal of 10 per cent import duty on cotton to improve the Textiles and Clothing sector because of rising raw cotton and yarn prices;...

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Reduction of Compliances Relating to Import of Goods at Concessional Rate of Duty

In a significant step towards Atmanirbhar Bharat, Central Board of Indirect Taxes & Customs (CBIC) has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and introduced end to end automation of the procedure involved...

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