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.