Custom Law - 41. page

   Transaction value :      Transaction value means: Price at which such or like goods are ordinarily sold or offered for sale; When sold for export to India for delivery […]

VALUATIONS UNDER CUSTOMS : Once the duty liability arises, such duty can be calculated only on the assessable value. As per section 2 (41 ) of the Customs Act ,1962 […]

Appointment of Officers of Customs: The relevant provisions are as under- (1 ) Classes of Officers of Customs (section 3 ) : Principal Chief Commissioner of Customs Chief Commissioner of […]

Provisions relating to Re- importation of   goods under Customs Act, 1962: As per section 20 in case of any goods that have been imported into India after exportation there from, […]

Provisions relating to denaturing or mutilation of Goods (Section 24 ) : Section 24 provides that an importer can request Central Government to denature or mutilate the imported   Goods ,which […]

Provisions relating to Goods derelict, Wreck ,jetsam etc.(Section 21 ): All goods derelict, Wreck ,jetsam and flotsam brought or coming into India ,shall be dealt with as if they were […]

Provisions relating to Remission of duty on lost, destroyed and abandoned  goods under Customs Act, 1962: Section 23 specifically permits remission of duty in the following cases – Loss or […]

Provisions relating to Abatement of duty on damaged or deteriorated goods under Customs Act, 1962: The provisions are as under- When it is shown to the satisfaction of the AC/DC […]

Liability of duty in case of pilfered goods: It is important to note that the Port Trust authority is the custodian of imported goods. Section 13 disables the government from […]

Custom duty on pilfered goods : Section 13 deals with the law applicable to pilfered goods as under – Any imported goods are pilfered After the unloading thereof; But before […]