Types of custom duties MCQ for ca final, cs professional, cma final and ...
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Both Import duties and export duties are prescribed under customs tariff act, 1975. Infact following duties are also prescribed under customs tariff act a. IGST on import of goods. b. GST compensation cess on import of goods. c. Safeguard duty d. CVD on subsidised articles. e. Anti dumping duty. As per section 12 of the customs Act, 1962 duties of customs are levied also under finance act. Social welfare surcharge under finance act 2018 and health cess under finance act 2020.
Both Import duties and export duties are prescribed under customs tariff act, 1975. Infact following duties are also prescribed under customs tariff act a. IGST on import of goods. b. GST compensation cess on import of goods. c. Safeguard duty d. CVD on subsidised articles. e. Anti dumping duty. As per section 12 of the customs Act, 1962 duties of customs are levied also under finance act. Social welfare surcharge under finance act 2018 and health cess under finance act 2020.
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