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BUDGETARY CHANGES IN CUSTOMS

Budget - By: - Mr. M. GOVINDARAJAN - Dated:- 3-2-2017 - Changes are more in Customs Act by Finance Bill, 2017 than in Central Excise and Service Tax. The changes meant for customs are discussed in this article. Changes in Section 2 - definitions Clause 88 (a) of the Bill seeks to insert a new definition namely beneficial owner by a new Section 2(3A). The beneficial owner means any person on whose behalf the goods are being imported or exported or who exercises effective control over the goods be .....

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orted or to be exported by post, the entry referred to in section 82 or the entry made under the regulations made under section 84. Clause 88(c) of the Bill proposes to omit the words in the case of goods imported or to be exported by post, the entry referred to in Section 82 or . Section 2(20) defines the term exporter in relation to any goods at any time between their entry for export and the time when they are exported, includes any owner or any person holding himself out to be the exporter. .....

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g himself out to be the importer. Clause 88 (f) seeks to substitute the words any owner, beneficial owner for the words any owner . Clause 88 (f) seeks to insert a new sub-clause (28A). The new Section 2(28A) defines the term international courier terminal as any place appointed under Section 7 (1) to be an international courier terminal. Clause 88(g) seeks to insert a new Section 2(30B) which defines passenger name record information as the records prepared by the operator of any aircraft or ve .....

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of imported goods or export goods or any class of such goods. Assessment of duty - Section 17 Clause 90 seeks to substitute the following section for existing Section 17(3) - Section 17(3) - For verification of self assessment under Sub section (2), the proper officer may require the importer, exporter or any other person to produce any document or information, whereby the duty leviable on the imported goods or export goods, as the case may be, can be ascertained and thereupon, the importer, ex .....

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n the reassessment bill of entry in the case of reassessment. Advance Ruling Chapter VB of the Customs Act deals with the advance ruling. Section 28E provides the definition for various terms. Clause 92 of the Bill seeks to substitute Section 28E (e). Accordingly the Authority is defined as the Authority for Advance Rulings constituted under Section 245-O of the Income Tax Act, 1961. Section 28F deals with the Authority for Advance Rulings. Clause 93 seeks to replace the existing Section 28F by .....

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Board, shall be the revenue Member of the Authority for the purposes of the Act. Section 28F(2) provides that on and from the date on which the Finance Bill, 2017 receives the assent of the President, every application and proceeding pending before the erstwhile Authority for Advance Rulings (Central Excise, Customs and Service Tax) shall stand transferred to the Authority from the stage at which such application or proceeding stood as on the date of such assent. Section 28G of the Act provides .....

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ead of ₹ 2,500/-. Section 28-I (6) of the Act provides the Authority shall pronounce its advance ruling in writing within ninety days of the receipt of application. Clause 96 of the Bill seeks to increase the time limit to pronounce its ruling by six months instead of 90 days. Section 30 - Delivery of import manifest or import report Clause 97 seeks to insert Section 30A after Section 30. The new Section 30A(1) provides that the person in charge of a conveyance that enters India from any p .....

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re the passenger and crew arrival manifest or the passenger name record information or any part thereof is not delivered to the proper officer within the prescribed time and if the proper officer is satisfied that there was no sufficient cause for such delay, the person-in-charge or the other person referred in sub section (1) shall be liable to pay such penalty, not exceeding ₹ 50,000/-, as may be prescribed. Passenger and crew departure manifest and passenger name record information Clau .....

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bed. Section 41A (2) provides that where the passenger and crew departure manifest or the passenger name record information or any part thereof is not delivered to the proper officer within the prescribed time and if the proper officer is satisfied that there was no sufficient cause for such delay, the person-in-charge or the other person referred to in sub-section (1) shall be liable to such penalty, not exceeding ₹ 50,000/- as may be prescribed. Entry of goods on importation - Section 46 .....

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presented within 30 days of the expected arrival of the aircraft or vessel or vehicle by which the goods have been shipped for importation into India. Where the bill of entry is not presented within the time so specified and the proper officer is satisfied that there was no sufficient cause for such delay, the importer shall pay such charges for the late presentation of the bill of entry as may be prescribed. Clearance of goods for home consumption - Section 47 Clause 100 of the Bill seeks to s .....

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due date as may be specified by rules made in this behalf and if he fails to pay the duty within the time so specified, he shall pay interest on the duty not paid or short paid till the date of its payment, at such rate, not less than 10%, but not exceeding 36% per annum, as may be fixed by the Central Government, by notification in the Official Gazette. Storage of imported goods in ware house pending clearance of removal - Section 49 Clause 101 of the Bill seeks to substitute Section 49 for th .....

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he importer that the goods cannot be removed for deposit in a warehouse within a reasonable time, the goods may pending clearance of removal, as the case may be, be permitted to be stored in a public warehouse for a period not exceeding 30 days. The provisions of this Chapter IX shall not apply to goods permitted to be stored in a public warehouse under this section. The Principal Commissioner of Customs or Commissioner of Customs may extend the period of storage for a further period not exceedi .....

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ereof, shall be deemed to be an entry for import or export, as the case may be, for the purposes of this Act. Clause 103 seeks to omit this Section. Regulation regarding goods imported or to be exported by post - Section 84 Clause 104 seeks to substitute the existing Section 84 (a) by the new one which is as follows- Section 84(a) the form and manner in which an entry may be made in respect of goods imported to be exported by post. Changes in procedure of Settlement of Cases Clause 105 seeks to .....

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