Customs and Excies Laws in India

Customs laws in India are primarily governed by the Customs Act, 1962, which regulates the import and export of goods, imposes customs duties, and prevents smuggling. The Customs Tariff Act, 1975 specifies duty rates, while different customs duties, including Basic Customs Duty (BCD), Countervailing Duty (CVD), Anti-Dumping Duty, and IGST, are levied on goods. Customs procedures involve filing a Bill of Entry for imports and a Shipping Bill for exports, with clearance facilitated through the Electronic Data Interchange (EDI) system.

Excise laws in India were previously governed by the Central Excise Act, 1944, but most excise duties were subsumed under GST in 2017. Excise duty is still applicable on petroleum products, alcoholic beverages, and tobacco, with the Central Board of Indirect Taxes and Customs (CBIC) overseeing administration. These duties are collected at the time of manufacturing or removal of goods.

Recent developments in customs laws include the Faceless Assessment Scheme for faster, transparent clearance and a Self-Assessment System for importers and exporters. The Digital India Initiative encourages the e-filing of customs documents, streamlining the overall process.