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What is Customs duty
The Budget estimate of the government's customs revenue for the year 2020-21 was Rs 1,38,000 crore. The revised estimates of customs for the 2019-20 Budget came at Rs 1,25,000 crore, while the actuals for the 2018-19 Budget stood at Rs 1,17,812.85 crore.
- Basic Customs Duty (BCD)
- Countervailing Duty (CVD)
- Additional Customs Duty or Special CVD
- Protective Duty,
- Anti-dumping Duty
Latest Updates on Customs duty
The EOUs should quickly familiarise themselves with the new procedures and raise any doubts/difficulties with the CBIC and ICEGATE, preferably before the coming Wednesday
Stocks like PC Jeweller, TBZ, Kalyan Jewellers and Senco Gold can potentially rally up to 27% from current levels, suggest technical charts.
The show cause notice asks the automaker to justify its claim for customs duty exemption on certain imported goods
Recent Customs duty cut has sparked a gold rush, driving ETF inflows to their highest level since February 2020
The share of Customs duty in India's gross tax receipts has more than halved in the past decade
An individual may possess one counterfeit item per type for personal use only, not for sale. Possession of quantities exceeding this limit is prohibited, as per US Customs and Border Protection rules
INS said a combination of factors are affecting the price and availability of newsprint, thereby creating a formidable burden for publishers in the country.
The issue came up for discussion at a session on e-commerce on the final day of the World Trade Organisation's (WTO) 13th Ministerial Conference (MC13)
The think tank said that Indian manufacturers "must pay" duties on smartphones sold within India, but exports should be exempted from such duties
As per EC release, economic operators carrying goods by sea, inland waterways, road and rail will have to submit a complete Entry Summary Declaration (ENS) dataset to ICS2
Jindal Stainless on Friday said it has sought continuation of zero customs duty on stainless steel scrap, steel scrap and pure nickel.
LS passed two bills -- one seeks to cap the age limit for GSTAT President and members while the other for provisionally effecting the changes in customs and excise duties announced in Budget.
The bilateral meeting concluded with both sides committing to furtherance of cooperation in areas of mutual interest, the statement added
Rule 1.1 of the FEDAI Rules, 2019 says that the normal working hours of ADs for foreign currency to Indian rupee transactions for clients is 9 a.m. to 5 p.m. on all days, except Saturdays, Sundays
Authority's target to be based on risk parameters
The Central Board of Indirect Taxes Monday said the difficulties being faced by traders in paying customs duties in the newly launched upgraded duty payments systems will be resolved at the earliest
The government has hiked customs duty on import of X-ray machines and non-portable X-ray generators to 15 per cent with effect from April 1
With revised customs duty across consumer electronics' manufacturers, analysts believe this measure would reduce costs for manufacturing mobile phones, TV panels, and kitchen chimneys
'As long as you expect to realise the CIF/CFR value of the goods and declare it correctly in your shipping bill/EDF, there is no violation under FEMA'
For mass segment cars priced above Rs 35 lakh, move can lead to more localisation