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Customs Duty and its Types

SYNOPSIS : Meaning of Customs Duty and Different Types of Custom Duties

Posted On : 03-09-2024

Meaning of Customs Duty

Customs Duty is a Indirect Tax. It is levied on import or export goods. Further Custom Duty is also known as import duty on Imported Goods or export duty on Exported Duty.

The value of customs duty may vary depending upon the country of orgin.

Types of Customs Duty

1. Basic Custom Duty
2. Education Cess (before 02-02-2018)
3. Social Welfare Surcharge (before 02-02-2018)
4. Secondary and Higher Education Cess (before 02-02-2018)
5. IGST
6. CGST
7. National Calamity Contingent Duty
8. Sageguard Duty
9. Anti-Dumping Duty
10. Protective Duty
11. CVD
12. Special CVD