Basics of Custom Duty

Basics of Customs Duty Page 1 of 3 Basics of Customs Duty Customs duty on imports and exports Similarity between excise and customs Taxable event in imports Customs duty is on imports into India and export out of India. Section 12 of Customs Act, often called charging section, provides that duties of customs shall be levied at such rates as may be specified under ‘The Customs Tariff Act, 1975', or any other law for the time being in force, on goods imported into, or exported from, India. There are many common provisions and/or similarities in provisions Central Excise and customs Law. Admi