The customs act, 1962 national biodiversity authority. Manufacture under bond under section 65 of the customs act. Customs duty is a type of indirect tax levied on goods imported into india as well as on goods exported from india. Rates of duty and taxes and determination of 18 origin under trade agreements 18d. December, 1962 an act to consolidate and amend the law relating to customs.
Download section wise summary on custom act 1962 and boost up your preparation. This document is highly rated by b com students and has been viewed 10262 times. Jul 21, 2011 the proposed amendment of section 28 of the customs act, 1962 52 of 1962 would safeguard government revenue involved in show cause notices issued by specified customs officers viz. 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 laws, tax laws. Procedure for clearance of imported and export goods. This customs act has been promulgated by parliament of india in the year 1962. 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. Section 241 of the customs act, 1962, defines value in relation to any goods as the value thereof determined in accordance with the provisions of subsection 1 or subsection 2 of section 14.
The proposed amendment of section 28 of the customs act, 1962 52 of 1962 would safeguard government revenue involved in show cause notices issued by specified customs officers viz. Here we are providing section wise summary on custom act 1962. Director general to declare rulings to be null, etc. Customs act to cover any offence and contravention committed by any person outside 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. Central board of indirect taxes and customs has launched a revamped and streamlined program to attract investments into india and strengthen make in india through manufacture and other operations under bond scheme, under customs act, 1962. Investment of powers of senior officer of customs by director general 6. The provisions of search under customs act must strike a just balance between investigation and interest of individuals privacy and freedom.
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. The customs act, 19621 chapter i preliminary section 1. Customs act 1962 indian bare acts india bare act law firm. At any warehousing station, the assistant commissioner of customs or deputy commissioner of customs may appoint public warehouses wherein dutiable goods may be deposited. The chapter includes officer of customs, appointment of customs ports, airports, etc. Customs act, 1962 and customs tariff act, 1975 are the two limbs of customs law in india which must be read with rules and regulations. Interpretation part ii appointment and powers of officers 3. Download free sample and get upto 75% off on mrprental. Amendment, modification or recovation of customs ruling 10 d. Custom act, 1962 bare acts law library advocatekhoj. At any warehousing station, the assistant commissioner of customs or deputy commissioner of customs may appoint public warehouses wherein dutiable goods. Rules regulations notifications orders circulars statutory ordinance statutes. The customs act, 1962 52 of 1962 th december, 1962.
Appellate tribunal to be called the customs, excise and. The customs act, 1962 52 of 1962 chapter ix warehousing. Section 17 of the customs act, 1962 provides for selfassessment of duty on imported and export goods by the importer or exporter himself by filing a bill of entry or shipping bill, as the case may be, in the electronic form new section 46 or 50. Short title, extent and commencement 1 this act may be called the customs act, 1962. Customs act, 1962 pdf file chapter i preliminary 1. An act to consolidate and amend the law relating to customs. Buy the customs act 1962 by panel of experts pdf online from faculty notes.
Customs tariff act 1975 is for the classification and rates of duty for import and export 3. The central government of india has power to make rules under section 156 of. 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. The customs act regulates import and export, protecting the indigenous industry. Searches under customs act, 1962, speaks of three kinds of searches that of persons, premises and conveyances and have been dealt in chapter xiii of the customs act. Section wise summary on custom act 1962 has been uploaded by for the benefit of ca final students. Similarly the indian customs act, 1934 was repealed by the customs tariff act, 1975cta. Be it enacted by parliament in the thirteenth year of the republic of india as follows. Appointment of director general, deputy director general and other officers 4. This file contains section wise summary on various custom act 1962. Appointment of customs ports, airports, etc appropriate renaming has been done, since provision of warehousing station has been deleted 9 section 9. Rules under customs act under section 156 of customs act, 1962, central government has been empowered to make rules. Receiving of two customs rulings p art iii levying of customs duties 11. Must watch customs act, 1962 revisionary lecture ca final may 18 by ca mahesh gour duration.
Rapid revision on customs my thoughts on indirect taxes. Entrustment of functions of board and customs officers on. Download sectionwise summary on custom act 1962 file in. Save as otherwise provided in sections 30 and 41, the proper officer may, in his discretion, authorise any document, after it has been presented in the custom house to be amended 1in such form and manner, withi x x x x extracts x x x x. Full text containing the act, custom act, 1962, with all the sections, schedules, short title, enactment date, and footnotes. Section 149 amendment of documents customs act, 1962. Customs act 1962 indian bare acts india bare act law. Download sectionwise summary on custom act 1962 file in pdf. Laws of malaysia act 235 customs act 1967 arrangement of sections art i preliminary 3 2.
Save as otherwise provided in sections 30 and 41, the proper officer may, in his discretion, authorise any document, after it has been presented in the custom house to be amended 1in such form and manner, withi. 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. The customs act, was enacted by the parliament in the year 1962, as per the list i of the union list parliament has an exclusive right to make laws. Date for determination of rate of duty and tariff valuation of imported goods. Customs act 1962, download pdf customs act 1962 vsctaxsol. Oct 16, 2019 central board of indirect taxes and customs has launched a revamped and streamlined program to attract investments into india and strengthen make in india through manufacture and other operations under bond scheme, under customs act, 1962. Presumption that incidence of duty has been passed 19 on to the buyer 19b. Amendment to ch ix of the customs act, 1962 removal of. The customs act, 1962 52 of 1962 chapter ix warehousing section 57. Idt indirect tax customs act, 1962 lecture 1 youtube. The entire gamut of the act is grouped into seventeen chapters.
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