Provisions of section 49 of customs act, 1962 relating to. At any warehousing station, the assistant commissioner of customs or deputy commissioner of customs may appoint public warehouses wherein dutiable goods. Custom act, 1962 bare acts law library advocatekhoj. The finance act, 2016 has inserted section 58 a in chapter ix of the customs act.
Subject to the provisions contained in section 28ab where a person, chargeable with the duty determined under subsection 2 of section 28, fails to pay such duty within three months from the date of such determination, he shall pay, in addition to the duty, interest at such rate not below ten per cent. Subject to the provisions contained in section 28ab where a person, chargeable with the duty determined under subsection 2 of section 28, fails to pay such duty within three months from the date of such determination, he shall pay, in addition to the duty, interest at such rate not below ten per cent and not exceeding thirty. Challenge in this appeal, by the revenue, under section eb of the customs act, 1962 for short the act is to the order dated 10th december 2004 passed by the customs, excise and service tax appellate tribunal, for short the tribunal whereby the appeal preferred by the respondent has been allowed holding that the assessable value. Proforma for claiming drawback on reexport of duty paid goods under section 74 of customs act, 1962 form no. Customs notes for icsi professional linkedin slideshare. One cannot avoid customs when exiting or entering a country thus making it nonexcludable. At any warehousing station, the assistant commissioner of customs or deputy commissioner of customs may appoint public warehouses wherein dutiable goods may be deposited. Download the customs act 1962 by panel of experts pdf online. Apr 16, 2020 baggage of custom duty customs act,1962, indirect tax laws b com notes edurev is made by best teachers of b com.
Clarification regarding legislative changes relating to customs act, 1962 proposed in the finance bill, 2017reg. A public goodservice is defined by being nonrival and nonexcludable. Director general to determine questions on classification and. Section wise summary on custom act 1962 has been uploaded by for the benefit of ca final students. The customs act, 1962 52 of 1962 chapter ix warehousing. Customs act 1962 indian bare acts india bare act law. The main advantage of the study material is to provide help to the students to get knowledge and skills in the particular subject.
Customs tariff act 1975 is for the classification and rates of duty for import and export 3. The customs act was enacted in 1962 with an objective to consolidate and modify the legal principles relating to customs. Must watch customs act, 1962 revisionary lecture ca final may 18 by ca mahesh gour duration. Most of this study material are providing free of cost. Index of customs act, 1962 other customs acts chapterssection. Classification and valuation by proper officer of customs a. Provisions of section 49 of customs act, 1962 relating to warehousing without warehousing. The free download file section wise summary on custom act 1962 is in the form of and is very useful for students who are going through ca final exams and would like to cover the area of idt in a detailed manner. The act came into force on the first day of february 1963 when the government issued notification in the gazette of india. Customs act 1962 custom rules foreign trade regulation rules, 1993.
Laws of malaysia part iii levying of customs duties act 235 11. Award of confiscation or penalty by customs officers not to interfere with other. Form for claim of drawback under section 74 of customs act, 1962 on goods exported by post form no. These changes would come into effect upon enactment of the said finance bill. The following table presents an overview of the said chapters and aims at securing the readers understanding of the provisions of the act in a proper perspective. Customs duty is a type of indirect tax levied on goods imported into india as well as on goods exported from india. Feb 24, 2015 customs provisions applicable to central excise section 12 in the central excise act, 1944 the central government may, by notification in the official gazette, declare that any of the provisions of the 1customs act, 1962 52 of 1962 relating to levy of and exemption drawback warehousing, offences and penalties. Customs act 1962 chapter ix warehousing india bareacts. Amendment to ch ix of the customs act, 1962 insertion of. Customs act 1962 is the main act, which provides for levy and collection of duty, import export procedure, prohibition, penalties, offences etc. Customs act 1962 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, customs act 1962 national security, others, procedural and administration, property related, public utilities, shipping.
Act, before a judge to discharge the duties of the job in a responsible manner. This customs act has been promulgated by parliament of india in the year 1962. An act to consolidate and amend the law relating to customs. Valuation in terms of section 14 of customs act, 1962. The entire gamut of the act is grouped into seventeen chapters.
Be it enacted by parliament in the thirteenth year of the republic of india as follows. Download free sample and get upto 75% off on mrprental. Short title, extent and commencement 1 this act may be called the customs act, 1962. Amendment of sec 46 and sec 47 of indian customs act. An ebook reader can be a software application for use on a computer such as microsofts free reader application, or a booksized computer the is used solely as a reading device such as nuvomedias rocket ebook.
Amendment to ch ix of the customs act, 1962 removal of. Download sectionwise summary on custom act 1962 file in. The chapter includes officer of customs, appointment of customs ports, airports, etc. In this act, unless the context otherwise requires, 1 1 adjudicating authority means any authority competent to pass any order or decision under this act, but does not include the board, 2. Customs notifications year wise, free pdf download vsctaxsol. Customs act, 1962 pdf file chapter i preliminary 1. Where in the case of any imported goods,whether dutiable or not,are entered for home consumption but the importer is unable to clear the goods, then he may apply to acdc for permitting the goods to be deposited in a public warehouse for a period not exceeding 30 days. May 10, 2017 levy of, and exemption from, customs duties. India includes the territorial waters of india which extend upto 12 nautical miles into the sea to the coast of india.
The provisions of customs act, 1962 and the rules and regulations made thereunder, including those relating to the date for determination of rate of duty, assessment, non. This document is highly rated by b com students and has been viewed 10262 times. Feb 01, 2016 introduction to customs act, 1962 by ca. One cannot avoid customs when exiting or entering a. Power to search suspected persons entering or leaving india, etc. Entrustment of functions of board and customs officers on certain other officers. Baggage of custom duty customs act,1962, indirect tax. Buy customs act, 1962 book online at best prices in india on. Kind reference is invited to proposals in the finance bill, 2017 relating to amendments in sections 46 and 47 of the customs act, 1962. Download this app from microsoft store for windows 10 mobile, windows phone 8. Buy the customs act 1962 by panel of experts pdf online from faculty notes. Section wise summary on custom act 1962has been uploaded by for the benefit. Download sectionwise summary on custom act 1962 file in pdf.
Buy customs act, 1962 book online at low prices in india. Power of minister to fix customs duties by orders to be approved by the dewan rakyat 12. May 23, 2014 6 applicability of provisions of customs act, 1962. December, 1962 an act to consolidate and amend the law relating to customs. Rules under customs act under section 156 of customs act, 1962, central government has been empowered to make rules. Entrustment of functions of board and customs officers on. This document is highly rated by b com students and has been viewed 285 times. Customs are a public service provided by the government of the respective country that collects the duties levied on imported goods as well as providing security measures through which people enter and exit the country.
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