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Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Amendment of section 71 of Customs Act, 1962 - Goods not to be ...

Bill

March 2, 2016

Amendment of section 71 of Customs Act, 1962 - Goods not to be taken out of warehouse except as provided by this Act - to substitute the word “re-exportation” with the word “export”.

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  3. Amendment of section 65 of Customs Act, 1962 - Manufacture and other operations in relation to goods in a warehouse - to substitute certain words therein.

  4. Substitution of new section for section 64 of Customs Act, 1962 - Owner’s right to deal with warehoused goods - to make provisions for owner’s right to deal with warehoused goods.

  5. Amendment of section 73 of Customs Act, 1962 - Cancellation and return of warehousing bond - to insert the word “transferred or” after the words “exported or”.

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  7. AMENDMENTS TO THE CUSTOMS ACT, 1962 and Rates of Customs Duties - Amendments Explained and Simplified

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  9. Taxability of amount received from goods auctioned - discharge of all the duties as per Section 150 of the Customs Act, 1962 - Not taxable as storage and warehousing service - AT

  10. Penalty under the provisions of Section 117 read with Section 72 of the Customs Act, 1962 - Non clearance of the goods from the warehouse within one year - penalty reduced - AT

 

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