Custom Duty in India

The Custom Duty in India is one of the most important tariffs. The custom duty in India is regulated by the Customs Act of 1962. The main purpose of the custom duty in India is the prevention of the illegal export and import of goods. The rates of the custom duty levied on the imported and exported goods are assigned in the Custom Act, 1962.

The Acts under the custom duty in India:

Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993

Customs Act, 1962

Customs Tariff Act, 1975
Foreign Trade (Development and Regulation) Act, 1992
Taxation Laws (Amendment) Act, 2006
Provisional Collection of Taxes Act, 1931
Central Excise Tariff Act, 1985
Foreign Trade (Regulation) Rules, 1993
Central Excise Act, 1944

The rules and regulations under the custom duty in India:

Foreign Privileged Persons (Regulation of Customs Privileges) Rules, 1957
Denaturing of Spirit Rules, 1972
Customs (Attachments of Property of Defaulters for Recovery of Government Dues) Rules, 1995
Accessories (Condition) Rules, 1963
Specified Goods (Prevention of Illegal Export) Rules, 1969
Re-Export of Imported Goods (Drawback of Customs Duties) Rules, 1995
Notice of Short-Export Rules,1963
Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995
Customs and Central Excise Duties Drawback Rules,1995
Customs Tariff (Identification, Assessment and Collection of Anti-Dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995
Customs Valuation (Determination of Price of Imported Goods) Rules, 1988
Customs Tariff (Determination of Origin of Goods under the Agreement on SAARC Preferential Trading Arrangement) Rules,1995
Notified Goods (Prevention of Illegal Import) Rules, 1969
Customs Tariff (Determination of Origin of Goods under the Bangkok Agreement) Rules, 1976
Customs Tariff (Determination of Origin of the U.A.R. and Yugoslavia) Rules, 1976
Customs (Settlement of Cases) Rules, 1999
Customs( Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996
Customs (Publication of Names) Rules,1975
Rules of Determination of Origin of goods under the Agreement on South Asian Free Trade Area (SAFTA)
Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997
Baggage Rules, 1998 Customs Tariff (Determination of Origin of Other Preferential Areas) Rules,1977
Customs Tariff (Determination of Origin of Goods under the Free Trade Agreement Between the Democratic Socialistic Republic of Sri Lanka and the Republic of India) Rules, 2000

The different duties under custom duty in India:

Basic Duty: This is the general kind of duty levied under the Customs Act, 62
Additional Duty (Countervailing Duty): This duty is levied under the Custom Tariff Act, section 3 (1)
Anti-dumping Duty: This duty prevents the dumping of foreign goods by the transnational companies
Protective Duty: This duty protect the interests of the Indian industrial sector
Export Duty: This duty is levied on the export of goods