Customs Act

SC restores DRI's key powers; Rs 20K cr Customs duty recovery back on track

Setback for Vedanta, Vi, Adani Enterprises, Canon, and 104 others

SC rules in favour of DRI authority; clears recovery of Rs 20,000 cr tax

This ruling confirms that DRI officers qualify as "proper officers" under Section 28 of the Customs Act, enabling them to issue show-cause notices

Customs, DRI seize 847 kg of gold worth Rs 544 cr at airports in Q1: FM

Customs and DRI officers have seized 847 kg of gold worth Rs 544 crore at various airports in the three months of the current fiscal till June, Finance Minister Nirmala Sitharaman said on Tuesday. In a written reply to a question in the Rajya Sabha, Sitharaman gave details of gold seizure cases at airports and seaports by Customs field formations and Directorate of Revenue Intelligence (DRI) from FY 2021-22 to FY 2024-25. In FY25, up to June 2024, 847.43 kg of gold was seized in 1,282 cases. The value of seized gold is Rs 543.61 crore. In the 2023-24 fiscal, there were 5,962 cases of seizure at airports with 3,714 kg of gold worth Rs 2,081 crore getting seized. In 2022-23, seizure of 2,776 kg of gold worth Rs 1,382 crore was made. In 2021-22, about 1,240 kg of gold worth Rs 572 crore was seized at the airports. The minister said Customs field formations are regularly sensitised to newer methods of smuggling. "On detection of gold smuggling cases, action is taken in accordance wi

Customs can ask for purchase invoices from exporters claiming DBK, Rodtep

Rule 9 of the Customs and Central Excise Duties Drawback Rules, 2017 and proviso at Para 2(1)(b) of notification no.76/2001-Cus (NT) dated 23rd September 2021 put a cap on the amount of drawback

India, Hong Kong customs dept unearth trade-based money laundering case

The Indian and Hong Kong Customs have unearthed a major case of Trade-Based Money Laundering (TBML) involving Hong Kong-based exporters and Indian importers located in a Special Economic Zone (SEZ), the finance ministry said on Friday. In an exemplary case of bilateral cooperation and exchange of information, this crackdown showcases investigation and enforcement actions taken by both administrations under their respective laws to expose an international cartel. DRI had unearthed a case of Trade-Based Money Laundering from a SEZ, wherein cheap synthetic diamonds were being imported into India in the guise of natural diamonds, to remit foreign currency out of India. Investigations revealed that cheap synthetic diamonds were being mis-declared as natural diamonds and overvalued more than 100 times and being imported from firms based in Hong Kong to SEZ in India. During the investigation, it was also observed that some real diamonds were imported but replaced with synthetic diamonds a

Chatroom: 'Interest can be claimed on delayed payment of drawback'

You can claim interest on the pre-deposit amount in accordance with Section 129EE of the Customs Act, 1962

Settlement Commission looks to raise awareness through FAQs

Where the taxpayers are doubtful on whether they will be penalized, it makes sense to opt for settlement and get a quick closure. For them, the latest FAQs give a quick initiation

'In CIF/CFR contracts, the seller bears risk of variation in freight rates'

'As long as you expect to realise the CIF/CFR value of the goods and declare it correctly in your shipping bill/EDF, there is no violation under FEMA'

Chatroom: 'Drawback of IGST also available on re-export of imported goods'

This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed

CBIC revises guidelines on arrest, prosecution for Customs violations

Central Board of Indirect Taxes & Customs has streamlined the monetary limit for exercising arrest, prosecution and bail with respect to offences committed under the Customs Act

SME Chatroom: 'IGCR Rules apply only when exemption notifications say so'

the duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the said IGCR Rules.

Helpful changes in Customs and GST procedures

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products

Poor drafting

Criminalising publishing of Customs data is a bad idea

Publishing confidential export-import data may now lead you to jail

The FY23 Budget has proposed to introduce section 135AA in the customs act through the Finance Bill for "protection of data".

Chinese mobile phone maker Xiaomi evaded Rs 653 crore in customs duty: DRI

Three show-cause notices have been issued to the mobile maker for demand and recovery of duty for April 2017-June 2020

Customs asks Adani Ports to explain ban on cargo from 3 nations: Report

The department 10 day ago sent a letter to tell India's largest port operator it needed permission, says ET.

Individuals need not obtain IEC to import for personal use: Expert

The Customs can refuse permission under Section 46(5) if the interests of revenue are adversely affected.

GST: Firms challenge constitutional validity of arrest rules in top court

Counsel for companies raises concerns about whether or not well accepted, judicially tested, fair and proper procedures are being followed during such arrests

FIEO seeks re-look at proposed Section 113(ja) in Customs Act

The trade views these measures with suspicion and alerts the government to possible unintended consequences of the proposed amendments

Imports from related party will be scrutinised by Customs: Expert

Rule 3(3)(a) of the Customs Valuation Rules, 2007 provides that where the buyer and the seller are related, the circumstances surrounding the sale will be examined