Page 2 - Customs Act

CBIC invites suggestions on reviewing customs laws for ease of doing biz

The CBIC has invited comments on the same by August 21. A comprehensive review would be undertaken by September

If the imported goods found defective can be re-exported, says expert

The specific provision under the Customs Act, 1962 is Section 26A that allows refund of import duty if the imported goods are found defective

Amendment to Customs Act to confuse traders

Most importers will find it difficult to comply with these requirements, as they have no independent means to verify the origin criteria

More penal power for Customs dept

Proposed amendments in Section 104 of the said Act would allow arrest of any person fraudulently obtaining duty credit scrips for more than Rs 5 million

Tax dept to start consultation on changes in Customs Act

Importers may need to make payment of customs duty on the same day when bill of entry is filed

Customs Act change: IAF asks Defence Ministry to find way out

Removing blanket duty exemption for defence goods may delay modernisation and maintenance programmes of fighter planes