Director general to determine questions on classification and. Controller of certifying authorities for filing electronic documents required under the act. Section 75a of the customs act, 1962, which was inserted by the finance act, 1995, provides that where any drawback payable to a claimant under section 74 or section 75 of the customs act as the case may be, is not paid within a period of three months from the date of filing of claim to the date of payment of such drawback, there shall be paid. Be it enacted by parliament in the thirteenth year of the republic of india as follows. 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,or in a private warehouse,if. Customs act, 1962 52 of 1962 see section 160 repeals year no. Index of customs act, 1962 other customs acts chapterssection. Provisions of section 49 of customs act, 1962 relating to warehousing without warehousing. The customs act 1967, in its current form, consists of 21 parts containing 169 sections and 1 schedule including 24 amendments. Appointment of customs ports, airports, etc appropriate renaming has been done, since provision of warehousing station has been deleted 9 section 9. Section wise summary on custom act 1962 has been uploaded by for the benefit of ca final students. India includes the territorial waters of india which extend upto 12 nautical miles into the sea to the coast of india.
For uncleared unclaimed goods which are lying for a period less than one year, the custodian would get the reserve price fixed by a panel of government approved valuers appointed by the custodian. The customs act, 1962 52 of 1962 chapter ix warehousing section 57. The customs act, 1962 and custom tariff act, 1975 has been extended to the whole. Customs act 1962 budget analysis 201617 all right reserved with bizsolindia services pvt.
An act to consolidate and amend the law relating to customs. Jul 15, 2014 the customs act was enacted in 1962 with an objective to consolidate and modify the legal principles relating to customs. 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. This file contains section wise summary on various custom act 1962.
Clarification regarding legislative changes relating to customs act, 1962 proposed in the finance bill, 2017reg. Accordingly, the importer of the goods can file a bill of entry under section 171 of the customs act, 1962 based on selfassessment without any intervention of the proper officer of customs. Section 143 in the customs act, 1962 indian kanoon. Provisions of section 49 of customs act, 1962 relating to. Chapter iv prohibitions on importation and exportation of goods. Download sectionwise summary on custom act 1962 file in. Rapid revision on customs my thoughts on indirect taxes.
Section wise summary on custom act 1962has been uploaded by for the benefit. Allowing denaturing or mutilation of goods 33 28 power to test and denature imported spirit. Appointment of director general, deputy director general and other officers 4. 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. Download section wise summary on custom act 1962 and boost up your preparation. Feb 01, 2016 introduction to customs act, 1962 by ca. These changes would come into effect upon enactment of the said finance bill. Download sectionwise summary on custom act 1962 file in pdf. Persons possessing notified goods to intimate the place of storage, etc. All goods deposited in any warehouse without pay ir. Questions to be answered and documents to be produced on arrival.
The act came into force on the first day of february 1963 when the government issued notification in the gazette of india. The entire gamut of the act is grouped into seventeen chapters. Download free sample and get upto 75% off on mrprental. 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 1 customs act, 1962 52 of 1962 relating to levy of and exemption drawback warehousing, offences and penalties. Except as otherwise provided in this act, or any other law for the time being in force, duties of customs shall be levied at such rates as may be specified under the customs tariff act, 1975 51 of 1975, or any other law for the time being in force, on goods imported into. Warehouse custody and handling of goods regulations. Customs act 1962 indian bare acts india bare act law firm.
Refund of excess customs duty paid under selfassessment. Customs duty is on imports into india and export out of india. Bombay electricity duty rules 1962 pdf of section 12 of the bombay electricity duty act, 1958 bom. Investment of powers of senior officer of customs by. Customs duty is a type of indirect tax levied on goods imported into india as well as on goods exported from india. Power to prohibit importation or exportation of goods. Amendment of sec 46 and sec 47 of indian customs act. Idt indirect tax customs act, 1962 lecture 1 youtube. The customs act, 1962 national biodiversity authority.
Akta kastam 1967, is a malaysian laws which enacted relating to customs structure. Export goods not to be loaded on vessel until entryoutwards granted. Section 12 of customs act, often called charging section, provides that duties of customs shall be levied at such rates as may be specified under the customs tariff act, 1975. Penalty for shortlevy or nonlevy of duty in certain cases. Obligation to produce documents and provide information. 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. Short title extent of repeal 1 2 3 4 1878 8 the sea customs act the whole. While introducing such selfassessment mechanism, the provisions of section 17 have underwent an amendment though no corresponding amendment was carried. Custom act, 1962 bare acts law library advocatekhoj. Classification and valuation by proper officer of customs a. 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 makes the following regulations further. 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. Disposal of unclaimedseized goods in terms of section 48 of the customs act, 1962 procedure thereof as per section 48 of the customs act, 1962 goods are to be cleared within 30 days of unloading at a customs station.
The scheme has been modernized with clear and transparent procedures, simplified compliance requirements ictbased documentation and account keeping, by the issue of manufacture and other operations in warehouse no. Home page of central board of indirect taxes and customs. To download the notes click on the link given below. Amendment act, 1962, or at any time within a period of. Short title, extent and commencement 1 this act may be called the customs act, 1962. The customs act, 1962 52 of 1962 chapter v levy of, and exemption from, customs duties section 12. 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. Customs act 1962 1878 sea customs act was the earlier one.
Kind reference is invited to proposals in the finance bill, 2017 relating to amendments in sections 46 and 47 of the customs act, 1962. App features complete customs act and rules in digital format. The central government of india has power to make rules under section 156 of customs act, 1962, and also has the power to issue notifications from time to time for the purpose of smooth. Indian customs acts 1962, chapterv, levy of and exemption. Brokers for formalities under customs act, 1962, shipping lines and air lines are required to file customs documents under digital signature certificates. Power of minister to fix customs duties by orders to be approved by the dewan rakyat 12. Buy customs act, 1962 book online at low prices in india. Checklist of documents to be submitted along with refund. 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.
At any warehousing station, the assistant commissioner of customs or deputy commissioner of customs may appoint public warehouses wherein dutiable goods may be deposited. Section 149 amendment of documents customs act, 1962. Power to require production of documents and ask questions. Where the duty has not been levied or has been shortlevied or the interest has not been charged or paid or has been part paid or the duty or interest has been erroneously refunded by reason of collusion or any wilful misstatement or suppression of facts, the person who is liable to pay the duty or interest, as the case may. How to claim customs duty refund taxandregulatoryaffairs.
Buy customs act, 1962 book online at best prices in india on. December, 1962 an act to consolidate and amend the law relating to customs. Customs act 1962 section 149 amendment of documents. The customs act, 19621 chapter i preliminary section 1. 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. Section 65 of the customs act, 1962 enables the conduct of manufacture and other operations in a customs bonded warehouse. Entrustment of functions of board and customs officers on certain other officers. 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. Buy the customs act 1962 by panel of experts pdf online from faculty notes. The customs act regulates import and export, protecting the indigenous industry.
Download the customs act 1962 by panel of experts pdf online. Detection of illegally imported goods and prevention of the disposal thereof. Laws of malaysia part iii levying of customs duties act 235 11. Customs act 1962 chapter 14 citation 44940 bare act.
Customs notes for icsi professional linkedin slideshare. Where this act or any other law requires anything to be done before a person can import or export any goods or clear any goods from the control of officers of customs and the 1assistant commissioner of customs or deputy commissioner of customs is satisfied that having regard to the circumstances of the case, such thing cannot be done before such import, export or clearance without detriment. Some of the values commonly known to the public are. Laws of malaysia act 235 customs act 1967 arrangement of sections p art i preliminary section 1. Entrustment of functions of board and customs officers on.
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