What is custom duty under Indian law?

Custom duty is applicable to goods imported into or exported from India. The normal rate is ten percent of the transaction value of the im-/exported goods. Also, an extra two percent of education charge is normally levied on the transaction amount of the imported goods. The rate of custom duty is categorized in accordance to Custom Tariff Act. This Act is in alignment with the Harmonized Commodity Description and Coding System of Tariff Nomenclature of World Customs Organization.