TMI BlogNotes on Clauses CustomsX X X X Extracts X X X X X X X X Extracts X X X X ..... vention on the Simplification and Harmonisation of Customs Procedure (Revised Kyoto Convention). Clause 85 of the Bill seeks to amend section 28F of the Customs Act with a view to provide that the Central Government may, by notification, authorise the Authority for Advance Ruling constituted under section 245-O of the Income-tax Act to act as an Authority under the said Act with the modification that a member from Indian Customs and Central Excise Service who is qualified to be a Member of the Board shall act as the member of the said authority and all the applications and proceedings pending before the authority constituted under the Customs Act shall be transferred to such notified authority from the date of authorisation. Subsection (2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , pending before Supreme Court or High Court. Clause 88 of the Bill seeks to amend sub-section (3) of section 137 of the Customs Act to,- (a) empower the Central Government to make rules to provide for the manner of compounding of offences; (b) exclude compounding of certain serious offences and in certain circumstances by inserting a proviso to that sub-section. Clause 89 of the Bill seeks to amend section 156 of the Customs Act with a view to empower the Central Goverment to make rules regarding the manner of compounding. Clause 90 of the Bill seeks to amend section 157 of the Customs Act with a view to empower the Board to make regulations to provide for the manner of,- (i) (a) export of goods, relinquishment of title to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facturer even after the discharge of the export obligation; (c) provide that the importer shall pay an amount equal to the additional duty of customs together with interest at the rate of fifteen per cent. per annum from the date of clearance of the said materials, in case,- (i) materials are imported against an authorization transferred by the Regional Authority, or (ii) the imported materials are transferred with the permission of Regional Authority; But no such amount shall be payable in respect of Authorizations issued from 1st May, 2006 till 31st March, 2007; and (d) define the word 'dutiable goods' for the purposes of the said notification. Customs Tariff Clause 93 of the Bill seeks to amend section 3 of the Customs Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. This has become necessary in order to validate certain actions affected by certain judicial pronouncements. Clause 98 of the Bill seeks to amend section 9 of the Customs Tariff Act retrospectively so as to extend the machinery provisions of the Customs Act, 1962 including those relating to, the date for determination of rate of duty, assessment, non-levy, short levy, refunds, interest, appeals, offences and penalties to that section in respect of countervailing duty on subsidised articles. Clause 99 of the Bill seeks to validate certain actions taken under any rule, regulation, notification or order made or issued under the Customs Act. This has become necessary in order to validate certain actions affected by certain judicial pron ..... X X X X Extracts X X X X X X X X Extracts X X X X
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