Custom Duty articles

7 Post Budget Suggestion on Custom Law by ICAI

ICAI submitted sugesstion on 1. Levy of Integrated Tax on goods remaining in Bonded warehouse 2. Audit of assessment of imported or exported goods. 3. Power to issue supplementary notice 4. Communication of an order, decision, summon, notice etc. under Customs Act, 1962 through electronic mails. 5. Requirements for being an applicant o...

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CBEC: Why should officials cheat & indulge into frivolous litigation

Rajiv Gupta The moot question is what the worth of the laws in this country is! Are they even worth the paper on which they are printed? The officials indulge into outright cheating & even abuse the beneficiary or issue veiled threats. This is the ground reality & no one seems to be bothered. The […]...

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Posted Under: Custom Duty |

Sale in the Course of Import

Goods imported into India are cleared for home consumption by payment of custom duty under Section 12 of the Customs Act, 1962 on the value determined under Section 14 of the Act....

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Budget 2018 – Proposed Changes in Customs Law

Changes in Customs tariff ( Rates):- Make in India theme, Reduction in duty on raw materials, Increase in duty on finished goods Significant Changes in Legislative Changes in Customs Act, 1962 Changes in Customs tariff Act, 1975...

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Procedure for AEO certification and Benefits of AEO under Customs

AEO is a trade facilitation scheme for ease of doing business in light of international development, holder of this certificate is entitled for privilege, benefits, exemption and relaxation on account of import and export. This certificate is issued for particular period after that to be renewed....

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Brief on Drawback Provisions with effect from 01.10.2017

Duty Drawback provisions are made to grant rebate of duty or tax chargeable on any imported / excisable materials and input services used in the manufacture of export goods....

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Budget 2018 Video presentation on important changes in Indirect Taxes

For understanding key highlights of the Budget, Mr. Bimal Jain has recorded a Video Presentation on Union Budget, 2018, discussing the various amendments brought/proposed in Indirect Taxes along with suggesting the GST road map which could have been the part of Budget....

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e-SANCHIT Under Customs – A Brief Note

As part of its “Ease of Doing Business” Initiatives, the Central Board of Excise & Customs (CBEC) has launched e- SANCHIT facility on a pilot basis recently for paperless processing and to facilitate the trading across Borders with ease....

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Duty Free Shops Sale of Goods and Display of Prices in Indian Currency

Duty Free Shops (or stores) are retail outlets at Departure or Arrival Terminals of International Airports that stocks a wide range of products and brands in the categories of liquors, chocolates, perfumes and cosmetics, tobacco, fashion accessories and electronics...

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Procedure for Export via Land Customs Stations to Nepal, Bangladesh & Bhutan

Customs Procedure for Export of Cargo in Containers and Closed bodied Trucks from ICDs/CFSs through Land Customs Stations (LCSs) for Export to Nepal, Bangladesh, Bhutan Adoption of ECTS Seal. ...

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