There are 2 laws of Customs

  • The Customs Act, 1962-containing procedure of Customs
  • The Customs Tariff Act, 1975 –containing rates of Customs Duty


There are 2 schedules in Customs Tariff Act

  • First Schedule-Contains goods liable to import duty
  • Second Schedule Contains goods liable to export duty


Different rates of duties?

There are 2 types of rates in Customs

  • P r ef e r e nt i a l r a t e o f d u t y
  • S t an d ar d ra t e o f d ut y


If goods are are imported from the p r ef e r e nti a l a r ea s [a s notified by the Central Government] , then a lower preferential rate of duty will be applicable

Otherwise, standard rate will be applicable.

  1. Indirect Tax
  2. Customs

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 11 years. He also provides Accounts Tax GST Training in Delhi and Pune.