Prepare for Customs Clearance Exam - Types of Custom Duty

All the Indian customs duties are defined under the Act of the Customs Act, 1962 and enable the government to levy duty on import-export, procedures for importing, exporting and offenses, etc. The Central Board of Excise & Customs (CBEC) is a division of the department of revenue of the ministry of finance. As mentioned in the CBLR exam 2018, CBEC divided into various divisions to manage all the fieldwork including, Customs, Customs preventive and Central Excise Zones, Commissionerate of Customs, Central Revenues Control Laboratory and Directorates, etc. Also, it took care of all the foreign and inland travel all the oversee proper tax administration. 

As per CBLR exam 2019 in India, here are all the types of Indian Customs Duty, 

Customs duties are levied on all goods imported into the country. On the other hand, export duties levied on some listed items mentioned in the second schedule. These customs duties are not levied on food grains, fertilizers, and some life saving drugs. As mentioned in the CBLR exam 2018, all the Indian customs duties are divided into various taxes such as, 

1. Basic Customs Duty

This duty is levied on all imported items which come under Section 12 of the Customs Act, 1962. The tax rate is levied on First Schedule to Customs Tariff Act, 1975.

2. Additional Customs Duty

This duty is levied on all the items which come under section 3 of the Customs Tariff Act, 1975. All the tax rate under this duty is similar to the Central Excise Duty charged on goods produced within India.

3. Protective Duty

This is levied for the purpose of protecting indigenous businesses and domestic products. All the rates are decided by the Tariff Commissioner.

4. Education Cess

All the items that come under this are charged at 2%, with some higher education cess 1%, which is mentioned in the customs duty.

5. Safeguard Duty

This duty comes for all those goods which are levied of the customs authorities feel that the exported goods can damage the economy of the country. 

For more details about the customs duty in India or to know more about  CBLR exam 2019 in India contact the expert team of JBS Academy on 9574005085 or chat with them on info@jbsacademy.com