Custom law and procedures:
is a tax which the State collects on goods imported into or exported out of the
boundaries of a country. Customs duties now form a significant source of
revenue for all countries, more so in the case of developing countries like
Basic duty. It may be at the standard rate or, in the case of import from some countries, at the preferential rate.
Additional customs duty equal to central excise duty leviable on like goods produced or manufactured in
. It is commonly referred to as countervailing duty or C.V.D. India
Special additional duty of Customs at the rate of 4% in order to provide a level playing field to indigenous goods which have to bear sales tax. This duty is to computed on the aggregate of –
basic duty of Customs;
additional duty of Customs leviable under section 3 of the Customs Tariff Act, 1975 (c.v.d.)
Additional duty of Customs at the rate of Re. 1/- per liter on imported motor spirit (petrol) and high speed diesel oil.
Anti-dumping duty/Safeguard duty for import to specified goods with a view to protecting domestic industry from unfair injury.