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AMENDMENTS IN THE CUSTOMS ACT 1962

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..... e 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 export of gold or silver, to prohibit their import or export. This clause is being amended to include any other goods (in addition to gold and silver) in its ambit. [105] 2. An explan .....

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..... e cleared only on furnishing security equal to differential duty. in certain cases, the preferential tariff treatment may be denied without further verification. [108] 4. A new section 51B is being inserted so as to provide for creation of an Electronic Duty Credit Ledger in the customs system. This will enable duty credit in lieu of duty remission to be giver) in respect of exports or other such .....

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