ISBN: 978-93-94174-93-1

Customs Duty - Meaning, Objectives, Taxable Events, Valuation and Current Customs Procedures in India

Assistant Professor of Commerce, Holycross college Autonomous, Nagercoil, India

Customs duty is an essential fiscal and regulatory instrument governing the movement of goods across international borders. In India, customs administration operates primarily under the Customs Act, 1962, and the Customs Tariff Act, 1975, supported by relevant rules, regulations, notifications, and digital procedures. This chapter examines the meaning, objectives, and significance of customs duty, with particular emphasis on revenue generation, regulation of international trade, prevention of smuggling, protection of domestic industries, and public safety. It discusses the taxable event associated with imports and exports, the treatment of warehoused goods, and the importance of customs valuation and foreign exchange conversion in determining assessable value. Major duties and related levies, including Basic Customs Duty, Social Welfare Surcharge, Integrated Goods and Services Tax (IGST) on imports, anti-dumping duty, countervailing duty, and export duty, are outlined. The chapter also explains the principal procedures for import and export clearance, including electronic filing of Bills of Entry and Shipping Bills, assessment, payment of applicable duties, examination, and customs release. Particular attention is given to digital customs administration through ICEGATE, electronic document submission, Single Window arrangements, and risk-based assessment. Contemporary developments, including the Baggage Rules, 2026, and selected regulatory advisories, illustrate the evolving nature of customs administration in India. Furthermore, the chapter highlights the importance of accurate tariff classification, appropriate documentation, regulatory compliance, and customs procedures in determining the landed cost and competitiveness of imported goods. Overall, it provides a structured understanding of customs duty and its practical relevance to commerce, taxation, logistics, and international business.

*Corresponding author; e-mail: naikrohan@gmail.com

Cite this Chapter: Rohan K. Naik. 2026. Intelligent Face Recognition under Real-World Occlusion Conditions. In: Dr. Lubna Suraiya Dr. P. Kanchana (Eds.). Commerce Reimagined: The Future of Trade and Transactions (Vol-IV). Excellent Publishers, India. pp. 161-175. doi: https://doi.org/10.20546/978-93-94174-93-1_4_10