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Customs duty

A customs duty is a tariff or tax which a country imposes on goods when they are transported across international borders. Customs Duties are used to protect countries' economies, residents, jobs, and environments, by limiting the flow of imported merchandise, especially restricted and prohibited goods, into the country. The Customs duty rate is a percentage determined by the value of the article purchased in the foreign country and not based on quality, size, or weight. U.S. customs duties are listed in the Harmonized Tariff Schedule of the United States.

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New Jersey Jeweler Admits to Avoiding Duties on Jewelry Imports From Turkey, India
September 12, 2024 by Jacob Kopnick|Penalties

Monishkumar Kirankumar Doshi Shah, who owned jewelry companies in New York City , pleaded guilty Sept. 10 to leading a scheme to "illegally evade customs duties for more than $13.5 million of jewelry imports" into the U.S., the U.S. Attorney's Office for the District of New Jersey announced. Shah, a resident of Jersey City, New Jersey, and Mumbai, also admitted to illicitly processing over $10.3 million through an "unlicensed money transmitting business."

Topics:Country of origin cases
Importer Ditches Customs Case on Automobile Seat Covers Classification
September 12, 2024 by Jacob Kopnick|Litigation

Importer Plasticolor Molded Products on Sept. 10 dismissed its customs case on the classification of its automobile seat covers. CBP classified the goods under Harmonized Tariff Schedule subheading 8708.99.8180, dutiable at 2.5%, with Section 301 tariffs assessed under subheading 9903.88.03. Plasticolor said the goods fit under subheading 8708.99.8180, dutiable at 2.5%, but were excluded from Section 301 duties under subheading 9903.88.43. Counsel for Plasticolor declined to comment on the reason for the dismissal (Plasticolor Molded Products v. United States, CIT # 20-03822).