To be published in part ii, section 3, subsection i of. Faq on swachh bharat cesssbc 286 kb act 797 kb rules. It is to be noted that the value of imported goods, for purposes of charging customs duty, is determined as per section 14 of the customs act, 1962. Must watch customs act, 1962 revisionary lecture ca final may 18 by ca mahesh gour duration. The provisions in the new customs and excise act came into effect on 1 october 2018. In exercise of the powers conferred by section 157 read with section 46 of the customs act, 1962 52 of 1962, the central board of excise and customs hereby. 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. 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 excise and exciseequivalent duties table order 2018 the order was gazetted. 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. Dated 26th september, 2017 copy of notification no. Customs act 1962 indian bare acts india bare act law firm.
Section 59 3 of the customs act, 1962 provides for the transfer of bonded goods to another person. Feb 07, 2018 must watch customs act, 1962 revisionary lecture ca final may 18 by ca mahesh gour duration. Act 22 of 1938 amended by laws of trinidad and tobago customs act chapter 78. An overview of the provisions of each part of the act. Section 149 amendment of documents customs act, 1962. Laws of malaysia part iii levying of customs duties act 235 11. India extraordinary government of india ministry of finance department of revenue notification no.
The entire gamut of the act is grouped into seventeen chapters. Customs act, 1962 52 of 1962 and subsection 12 of section 3 of the customs tariff act, 1975 51 of 1975, the central government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the. Amendment to customs valuation rules notification no. Seeks to give effect to the provisions of rule 87 and form gst pmt09 of the cgst rules, 2017. In this act, unless the context otherwise requires, 1 1 adjudicating authority means any authority competent to pass any order or decision. Powers delegated to chief commissioner section 10 of customs act,1962. A commentary on every section in each part of the act, giving a detailed description of the provisions and effects of the sections. Statutory provisions of customs act, 1962 customs act, 1962 came into force from 121963.
In exercise of the powers conferred by subsection 1 of section 25 of the customs act, 1962 52 of 1962, the central government, on being satisfied that it is. On march 31, 2017 the central board of customs and excise of india cbec announced amendments to sections 46 and 47 of the customs act of 1962 that went into effect on april 1, 2017. Be it enacted by parliament in the sixtyeighth year of the republic of india as follows. In the customs act, in section 28i, in subsection 6, for the words. To be executed under subsection 2 of section 59 of the customs act, 1962 by. Hitherto this drawback inter alia comprised refund of basic customs duty and additional duties under section 3 of the customs tariff. Circular 122017 dt 31st march, 2017, amendment of sec 46 and sec 47 of indian customs act. Classification and valuation by proper officer of customs a. Customs valuation determination of value of imported goods. Rules regulations notifications orders circulars statutory ordinance statutes. To be published in the gazette of india, extraordinary, part. Circular 12 2017 dt 31st march, 2017, amendment of sec 46 and sec 47 of indian customs act.
All principal commissioners of customs all commissioner of customs sub. To be published in the gazette of india, extraordinary, part ii, section 3, subsection i in exercise of the powers conferred by subsection 1 of section 25 of the customs act, 1962 52 of 1962 and subsection 12 of section 3, of customs tariff act, 1975 51 of. Application fees for advance ruling has been increased from rs. A public goodservice is defined by being nonrival and nonexcludable. Duty means a customs duty collected from goods imported into or exported out of the kingdom. In exercise of the powers conferred by section 156 read with section 14 of the customs act, 1962 52 of 1962, the central government, hereby makes the following rules to amend the customs valuation determination of value of imported goods rules 2007, namely. Customs notification no 50 of 2017 dt 30th june, 2017. Difficulties related to recent amendments in customs act, 1962. Home page of central board of indirect taxes and customs. Port, air port, land customs station and the area where the goods are ordinarily kept before clearance section 9 of customs act,1962 9 a under this section warehousing stations are declared by the board. The taxation laws amendment bill, 2017 a bill further to amend the customs act, 1962, the customs tariff act, 1975, the central excise act, 1944, the finance act, 2001 and the finance act, 2005 and to repeal certain enactments.
Short title, extent and commencement 1 this act may be called the customs act, 1962. One cannot avoid customs when exiting or entering a. In exercise of the powers conferred by section 157 read with section 46 of the customs act, 196252 of 1962, the central board of excise and customs hereby. Custom lecture 1 ay 201718 indirect taxes by ca raj k agrawal duration. Approve landing places and specify limits if customs area. Custom act, 1962 bare acts law library advocatekhoj. The sale of the warehoused goods to holders of duty exemption or duty concession license for the goods is permitted under the law boards instructions issued from f.
Inserted by the finance act, 2017 7 of 2017, section 89 w. Power of minister to fix customs duties by orders to be approved by the dewan rakyat 12. Tax act, 2017 or integrated goods and services tax act, 2017 or goods and. Document image 1 image 2 image 3 image 4 image 5 image. Index of customs act, 1962 other customs acts chapterssection. To be published in part ii, section 3, subsection i. Section 26a in the customs act, 1962 53 26a refund of import duty in certain cases. An act to consolidate and amend the law relating to customs. Custom lecture 1 ay 2017 18 indirect taxes by ca raj k agrawal duration. Notes for guidance customs act 2015 the notes contain.
Director general to determine questions on classification and. 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. The customs act, 1962 and the central excises and salt act, 1944 provide for the levy and collection of duties of customs and excise, respectively. Mukharjees customs law practice and procedures 1 8th edition 2017 as amended by finance act 2017 bv v. Section wise summary on custom act 1962has been uploaded by for the benefit. Central board of excise and customs notification no. Customs act 1962 budget analysis 2017 18 clause of finance bill amendment analysis shall be substituted. Chapter iii appointment of customs ports, airports,warehousing stations etc. The act contains two schedules, and specifies the nomenclature that is based on the harmonized commodity description and coding system as hs and also contains description of goods chargeable to export duty. The classification of the imports and exports of the goods are governed by the customs act of 1962 and customs tariff act of 1975. New regulations for alcohol and tobacco came into force in february 2017. The customs and excise revenues appellate tribunal is being set up for adjudication of disputes with respect to the determination of the rates of duties of customs and central excise on goods and to. Customs act 1446 kb act current to 20200305 and last amended on 20191218.
Chapter iv prohibitions on importation and exportation of goods. A copy of the notice issued to the importer under section 48 of the customs act, 1962. 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. In exercise of the powers conferred by section 75 of the customs act, 1962 52 of 1962 and section 37 of the central excise act, 1944 1 of 1944, the central government hereby makes the following rules, namely. In exercise of the powers conferred by subsection 1 of section 25 of the customs act, 1962 52 of 1962, the central government, being satisfied that it is necessary in the public interest so to do, hereby makes the following. Amendment of sec 46 and sec 47 of indian customs act. An act further to amend the customs act, 1962, the customs tariff act, 1975, the central excise act, 1944, the central sales tax act, 1956, the finance act, 2001 and the finance act, 2005 and to repeal certain enactments. Reduction of free period for import air cargo clearance in india customs notification no. December, 1962 an act to consolidate and amend the law relating to customs. Our customers need to be aware of what changes affect them and their businesses. 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 tariff amendment act 2017 federal register of.
1623 1142 1580 492 398 1010 412 832 817 1267 436 714 1386 127 456 91 761 868 1226 1183 1037 125 1061 234 1537 1304 674 1065 1295 896 467 680 921 35 89