What is basic custom duty

Basic Customs Duty (BCD) is a primary tax levied on goods imported into India under the Customs Act, 1962. It is typically calculated as a percentage of the assessable value of the imported item. The key features include:

• The rates vary depending on the classification of goods under the Customs Tariff Act.
• It serves to regulate international trade and protect domestic industries by making imports more expensive.
• The Central Government can exempt or reduce these rates for specific goods through official notifications to support economic goals.