chapter - 1 custom act, definitions, types - copy

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CUSTOMS ACT,

1962



LEARNING

OUTCOME

Understanding the meaning of Customsand denitions therein



INTRODUCTION

Assented by President on 13th

December, 1962Came into orce on 1st !ebr"ary, 1963

#$tends to %ho&e o India

Contains 'ro(isions re&atin) to Im'ort,#$'ort and ba))a)e o 'ersons arri(in)in India*



+eanin) and constit"tiona&a"thority

Custom Duty

D"ty tari- im'osed by .a% on /oods 0im'orted in to or #$'orted o"t o co"ntry*

.e(ied by Centra& /o(t* 0 at rates s'ecied C"stoms Tari- Act, 194*



Ob5ecti(e o the act•

To co&&ect d"ty on im'ort and e$'ort• to enorce 'ro(isions o the c"stomsact )o(ernin) im'ort e$'ort o

car)o, ba))a)e, 'osta& artic&es*

To 're(ent sm"))&in) acti(ities 0 by'ro(idin) necessary 'o%ers toCentra& /o(t*

To 'rotect 0 domestic ind"stry romorei)n com'etition 0 by im'osin)d"ty on im'orts*

To restrict im'orts 0 to conser(e

!orei)n e$chan)e*



!eat"res o the act• A''ointment o c"stom o7cer, 'orts,

&andin) stations and air'orts*

• Pro(isions re)ardin) &e(y and co&&ection od"ty*

• Pre(ention and detection o i&&e)a& im'ortsand e$'orts*

• Proced"re o c&aimin) d"ty dra%bac8*

• Pro(isions re)ardin) searches, sei"resand arrest*

• Pro(isions re)ardin) ba))a)e and 'osta&im'orts*

• Pro(isions re)ardin) transit,

transshi'ment and %areho"sin)*• Pro(isions re ardin a ea&s, sett&ements,



Ta$ab&e e(ent

In Im'orts%hen )oods cross the c"stoms barrier*

In case o %areho"sed )oods

%hen )oods are c&eared rom the%areho"se

In e$'orts%hen )oods cross territoria& %aters oIndia



Denitions

1*/oods Us 2 :22;

2*Coasta& /oods Us 2 :;

3* D"tiab&e )oods Us 2 :1<;<*C"stom area Us 2 :11;

4* Indian c"stoms %ater Us 2 :2=;

6*>a))a)e Us 2 :3;* Assessab&e (a&"e ?ection 1<

=*D"ty dra%bac8



Ty'es o d"ties1; >asic C"stom D"ty &e(ied Us 12

2; Co"nter(ai&in) D"ty A@>CDNCCD B12

A&coho&

On +RP

#$em'tion

3; ?'ecia& C@D A@>CDC@D#C?#C B<Not on:

if goods are exempted from BCD, CVD

-) Excise duty is payable on MRP price

-) Patent or proprietary medicines-) Readymade garments

-) Passenger baggage

-) e!elry "#$



Ty'es o d"ties

#d"cation cess NCCD

?ae)"ard d"ty

- i im'osed, (a&id or < years or C/ increase

'eriod to 1E years*- #$ceeds 3 o tota& im'ort rom that co"ntry*

- Di-erent co"ntries e$ceeds 9

Anti d"m'in) d"ty

TOTA. DUTF PAFA>.# B 2=*=4 %*e** 1E32E12



#GA+P.#

• Assessab&e @a&"e 1E,EEE

• BCD: @10%: 1,000• ?"btota& 11,EEE

• CVD @12%:1,320

• ?"btota& 2,32E• EC @ 2% 46.40

• SHEC @1% 23.20

• ?"btota& 12,3=9*6E

• Special CVD @4% 4!.!"

• #$#& D'#( )(B&E: 2,""!.1"$* 2,""!

chapter - 1 custom act, definitions, types - copy

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