1 / 7

Scope & coverage of customs Law

Scope & coverage of customs Law. Customs Act Rules under customs Act Regulation under customs Rules u/s 156 & Regulation u/s 157 Parliamentary approval for rules & regulation Notification under customs Act Custom Manual Public Notice. Functions of Custom Department.

gino
Download Presentation

Scope & coverage of customs Law

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Scope & coverage of customs Law • Customs Act • Rules under customs Act • Regulation under customs • Rules u/s 156 & Regulation u/s 157 • Parliamentary approval for rules & regulation • Notification under customs Act • Custom Manual • Public Notice

  2. Functions of Custom Department • Collection of duty and recovery of penalty • Discharge of various agency functions, & enforcing various prohibitions & restriction on imports & exports • Enforcement of various provisions of customs Act governing imports & exports of cargo, baggage, postal articles etc • Prevention of smuggling including interdiction on narcotics drugs trafficking • International passenger processing

  3. Taxable event for Import duty • Taxable event for imported goods would be date on which it reach to custom barriers & bill of entry for home consumption is being field • Though, import into India will start when goods enter into territorial water of India & it will complete when goods become part of mass of goods in the country (Kiran spinning mill Vs CC) • Rate of duty would be – which ever is later • Date of bill of entry presented or • Date of entry inward

  4. Taxable event • In case of warehoused goods – Date on which bill of entry for home consumption will filed from bonded warehouse • In case of Export • Export will complete when goods cross territorial waters of India • Duty collection may be in advance before completion of export.

  5. Definitions • Goods :- includes • Vessels, aircrafts & vehicles • Stores , baggage , currency and negotiable instruments and other kinds of movable properties • Dutiable Goods:- goods on which duty payable before custom clearance. Following is not dutiable goods • If any goods assessed at “Nil” • If duty rate is “free”

  6. Definitions • Imported Goods:- goods brought in India from a place outside India. Once the goods is being cleared for home consumption – status of goods will not remain imported • Export Goods:- • Any goods which are to be taken out of India to a place outside India • Goods at port for export purpose “export goods” • Crossing of territorial water by goods result in to loss of control by India law so Indian provisions can not confiscate the same

  7. Rate of custom duty applicable • Basic customs duty • Subject to exemption, notification etc. • Import from preferential area will be charged preferred rate • Rate for additional duty (CVD) • Rate when goods consists of articles liable to different rates of duty • Rate of accessories & spare parts along with machinery

More Related