AMENDMENTS IN THE CUSTOMS ACT 1962

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..... the Finance Bill, 2020 will come into effect on the date of its enactment, unless otherwise specified. S. No. Amendment Clause of the Finance Bill, 2020 1. Clause (f) of the section 11 (2) empowers the Central Government, for prevention of injury to the economy of the country by the uncontrolled import or .....

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..... regime under Trade Agreements. The proposed new section seeks to specifically provide for certain obligation on importer and prescribe for time bound verification from exporting country in casa of doubt. Pending verification preferential tariff treatment shall be suspended and goods shall be cleared only on furnishing security equal to differential duty. in certain cases, the preferential tariff t .....

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..... Chapter VAA or of any rule made under this Act have been contravened shall be liable to confiscation. [111] 6. Section 156 is being amended to insert a new clause (i) in sub-section (2) to empower the Central Government to make rules for the purpose of prescribing the manner, procedures, conditions, restriction and other issue to carry out the .....

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