What is Customs Duty in Import and Export

In an elementary and isolated terminology custom duty is that quantum or aggregate that you have to remunerate to government for import and Export. Custom duty very country to country and item to item as well. These duties are different type’s Basic Duty, Countervailing Duty, Special Additional Countervailing Duty (known as Special CVD), Anti-Dumping Duty, and Safeguard Duty.