import duty

Matrix of Legal Provisions applicable to Precursor Chemicals for IEDs

Custom Duty - Article briefly describe important legal provisions in India relating to Hazardous Chemicals/Dangerous Goods and Precursor Chemicals/Detonator used for IEDs ...

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A Brief on Duty Exemption In Indirect Taxes

Custom Duty - The Central Excise Tariff Act, 1985 prescribes rate of duty which is called as Tariff Rate or statutory rate of Duty. Since this rate is fixed by an Act of the parliament, any change in the rate of duty upward or downward, which government may consider on any excisable goods to achieve varied socio economic objectives, shall require appro...

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Brief on Import/Export of Urea & Related Law

Custom Duty - Article explain about Compulsory Compliance Requirement for Import / Export of Urea [a Precursor Chemical for manufacture of IEDs]. ...

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All about Bill of Lading/ Airway Bill

Custom Duty - n today‟s environment, where the volume of the goods being imported or exported is continuously increasing, the number of Customs officers to deal with such goods has remained same or decreased. Now, a Customs officer,no longer, has liberty to hold the goods for long time or to subject every consignment of imported /exported goods for d...

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Exports – Not so zero rated?

Custom Duty - How often do we hear exports are zero rated, like whenever an assessee think of doing an export transaction, he perceives it to be duty free, tax free and cess free (pun). Zero rated situs means no tax on inputs and no tax on output. What zero rated miss is tax freeness on intermediate....

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Govt imposes 10% BCD on mobile phone and specified parts

Custom Duty - With effect from 01.07.2017 Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods....

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Import from China affecting 12 product groups in MSMEs

Custom Duty - The Indian Micro, Small and Medium Enterprises (MSMEs) are facing tough competition from cheap Chinese products as is evident in high growth of India’s imports from China. As per information compiled from Director General of Commercial Intelligence & Statistics in respect of 12 major product groups...

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Minimum Import Price on import of Arecanuts increased to ₹ 162/- per kg.

Custom Duty - On account of unabetting import of areca nut from neighbouring countries originating from countries such as Indonesia and Myanmar taking the advantage of low import duty provided under SAFTA and consequent representations from various stakeholders, the Department of Commerce has decided to increase the Minimum Import Price (MIP) on import...

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Import Duty on Chinese Bicycles

Custom Duty - Bicycles attract basic customs duty (BCD) of 30% while specified parts of bicycles attract BCD of 20%. China is the largest exporter of bicycles and parts thereof to India. However, import data for 2013-14 shows no evidence of increase in imports of bicycles and parts from Sri Lanka and in case of Bangladesh, while there […]...

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Govt may not increase import duty on edible oils

Custom Duty - Amid rising prices of cooking oil, the government is unlikely to increase import duty on crude and refined edible oils that currently stands at zero and 7.5 per cent, respectively. "There will not be any increase in import duty of crude and refined e...

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Claim for refund of the duty paid under the Customs Act, 1962 and consideration of Essentiality Certificates

RBF Rig Corporation Vs The Commissioner of Customs (Imports) (Supreme Court of India) - This appeal is directed against the Order of the Customs, Excise and Gold (Control) Appellate Tribunal, West Zonal Bench [hereinafter referred to as ‘the Tribunal’] dated 12.05.2006. The Deputy Commissioner of Customs has rejected the refund claim of appellant on the ground of unjust enrichm...

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Govt now allows BCCI duty free import for WC

Notification No. 07/2011-Customs - (09/02/2011) - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts ...

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Notification No. 96 /2010-Customs, notification about import anti dumping duty

Notification No. 96 /2010-Customs - (21/09/2010) - G.S.R. (E). - Whereas in the matter of imports of Sodium Tripoly Phosphate (STPP) (hereinafter referred to as the subject goods), falling under sub heading 2835 31 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred as the said Customs Tariff Act), originating...

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Introduction of new entries in the Drawback Schedule and clarification on certain issues

Circular No. 33/2009-Custom Duty - (27/12/2009) - The drawback rates provided for gold & silver jewellery will only be applicable for exports made through the ports /custom houses as specified in para 4A.12 of the Hand Book of Procedures (vol.1), 2004-2009 after examination by the jewellery expert appraisers/superintendents to ascertain the quality...

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Recent Posts in "import duty"

Govt imposes 10% BCD on mobile phone and specified parts

With effect from 01.07.2017 Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods....

Read More
Posted Under: Custom Duty |

Matrix of Legal Provisions applicable to Precursor Chemicals for IEDs

Article briefly describe important legal provisions in India relating to Hazardous Chemicals/Dangerous Goods and Precursor Chemicals/Detonator used for IEDs ...

Read More
Posted Under: Custom Duty |

A Brief on Duty Exemption In Indirect Taxes

The Central Excise Tariff Act, 1985 prescribes rate of duty which is called as Tariff Rate or statutory rate of Duty. Since this rate is fixed by an Act of the parliament, any change in the rate of duty upward or downward, which government may consider on any excisable goods to achieve varied socio economic objectives, shall require appro...

Read More
Posted Under: Custom Duty |

Brief on Import/Export of Urea & Related Law

Article explain about Compulsory Compliance Requirement for Import / Export of Urea [a Precursor Chemical for manufacture of IEDs]. ...

Read More
Posted Under: Custom Duty |

All about Bill of Lading/ Airway Bill

n today‟s environment, where the volume of the goods being imported or exported is continuously increasing, the number of Customs officers to deal with such goods has remained same or decreased. Now, a Customs officer,no longer, has liberty to hold the goods for long time or to subject every consignment of imported /exported goods for d...

Read More
Posted Under: Custom Duty |

Exports – Not so zero rated?

How often do we hear exports are zero rated, like whenever an assessee think of doing an export transaction, he perceives it to be duty free, tax free and cess free (pun). Zero rated situs means no tax on inputs and no tax on output. What zero rated miss is tax freeness on intermediate....

Read More
Posted Under: Custom Duty |

CVD Exemption to Importer

The Central Excise duties are duties on manufacture of goods. The Counter vailing duty (CVD) u/s 3(1) of customs Act, 1965 is a customs duty in disguise of central excise duty leviable on importer when the goods are imported instead of domestically procured. More or less these two duties work on similar footings....

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Posted Under: Custom Duty |

Import from China affecting 12 product groups in MSMEs

The Indian Micro, Small and Medium Enterprises (MSMEs) are facing tough competition from cheap Chinese products as is evident in high growth of India’s imports from China. As per information compiled from Director General of Commercial Intelligence & Statistics in respect of 12 major product groups...

Read More
Posted Under: Custom Duty |

Minimum Import Price on import of Arecanuts increased to ₹ 162/- per kg.

On account of unabetting import of areca nut from neighbouring countries originating from countries such as Indonesia and Myanmar taking the advantage of low import duty provided under SAFTA and consequent representations from various stakeholders, the Department of Commerce has decided to increase the Minimum Import Price (MIP) on import...

Read More
Posted Under: Custom Duty |

Import Duty on Chinese Bicycles

Bicycles attract basic customs duty (BCD) of 30% while specified parts of bicycles attract BCD of 20%. China is the largest exporter of bicycles and parts thereof to India. However, import data for 2013-14 shows no evidence of increase in imports of bicycles and parts from Sri Lanka and in case of Bangladesh, while there […]...

Read More
Posted Under: Custom Duty |
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