Everything you need to know about Custom Duty
Custom duty is one type of tax that is set through the Government of India. This duty is levied on all products that are exported or imported from India. The government generates enormous revenue through this tax. Central Board of Excise and Customs (CBEC) is the central government body that is responsible for the administration of the customs duty on every product. CBEC is part of the Department of Revenue under the Ministry of Finance, Government of India. Custom rates are different for every item and is determined in the Central Board of Excise and Customs under the Customs Tariff Act, 1975.