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What is Custom Duty?

  • It is a duty or tax charged on Goods imported into India or exported outside India
  • On Imports, Goods are allowed to be entered India only if custom duty is paid
  • Similarly in case of exports, goods are allowed to be exported outside India only if custom duty is paid

 

Constitutional Power to Impose Customs Duty

Entry 83 of the Union List of the Seventh Schedule to the Constitution of India empowers Central Government to impose duty,

Duties of Customs including Export duties.

  1. Indirect Tax
  2. Customs
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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