Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Statutory Provisions
Home Acts & Rules Bill Bills FINANCE BILL, 2017 Chapters List Customs This
← Previous Next →

Clause 88 - Amendment of section 2. - FINANCE BILL, 2017

FINANCE BILL, 2017
Customs
  • Contents

CHAPTER IV

INDIRECT TAXES

Customs

Amendment of section 2.

88. In the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in section 2,––

(a) after clause (3), the following clause shall be inserted, namely:-

‘(3A) “beneficial owner” means any person on whose behalf the goods are being imported or exported or who exercises effective control over the goods being imported or exported;’;

(b) in clause (13), for the words “customs airport”, the words “customs airport, international courier terminal, foreign post office” shall be substituted;

(c) in clause (16), the words “in the case of goods imported or to be exported by post, the entry referred to in section 82 or’’ shall be omitted;

(d) in clause (20), for the words “any owner”, the words “any owner, beneficial owner” shall be substituted;

(e) after clause (20), the following clause shall be inserted, namely:––

‘(20A) “foreign post office” means any post office appointed under clause (e) of sub-section (1) of section 7 to be a foreign post office;’;

(f) in clause (26), for the words “any owner”, the words “any owner, beneficial owner” shall be substituted;

(g) after clause (28), the following clause shall be inserted, namely:––

‘(28A) “international courier terminal” means any place appointed under clause (f) of subsection (1) of section 7 to be an international courier terminal;’;

(h) after clause (30A), the following clause shall be inserted, namely:––

‘(30B) “passenger name record information” means the records prepared by an operator of any aircraft or vessel or vehicle or his authorised agent for each journey booked by or on behalf of any passenger;’.

 



 

Notes on Clauses:

Clause 88 of the Bill seeks to amend section 2 of the Customs Act. It is proposed to amend clauses (13), (16), (20) and (26) and to insert new clauses (3A), (20A), (28A) and (30B) therein.

 
 
 
 
← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||