Customs Laws
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Customs Law
Customs law covers taxes and other actions used in handling the flow of goods into and out of a nation.
Custom Duty is an indirect tax set under the Customs Act framed in 1962. The power to pass the law is under the Constitution of India under Article 265. It states that no tax shall be set or collected except by the authority of law. The Customs Act, 1962 is the prime decree that handles the entry or exit of diverse vessels, planes, goods, passengers etc., in and out of the nation. The Act extends to the customs law in India.
Customs Act, 1962 just like any other tax rule it is mainly for the levy. And at the same time, it has vital objectives such as:
(i) Ordinance of imports and exports;
(ii) Security of domestic industry;
(iii) Prevention of smuggling;
(iv) Protection and Boost of foreign trade and so on.
Inclusions
Notifications and Circulars from MoF/CBEC
The Ministry of Finance (MoF) are responsible for preparing various laws that include budget preparation and financial management roles. On the other hand, CBEC is liable for dealing with the policies formation on the levy and collection of Customs and Central Excise duties. Along with deterrence of smuggling and oversight of matters relating to Customs. Together both the regulating bodies issue notices and circulars, and we study and share the same with you in simple language.
Amendment to Customs Act and Rules
Custom rules notify you of breaches of best rules before posting changes. These reports can occur as warnings or errors. There is a set of built-in rules according to which you can revise these to meet your needs. We notify tax experts regarding the amendments made in Custom Act.
Latest news updates and researched articles
Updates are sometimes not clear to understand. And we at Tax India Services first understand and craft the email in simple terms for you to learn. Articles are also shared to give you knowledge about the various aspects and in-depth analysis of regulations.
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Customer satisfaction is our prime motive. So to know about it, you can also ask us to share past articles and research papers. We are pleased when our clients are satisfied with the service we provide.
CUSTOMS LAWS
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