Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: list of goods taxed at 4% :: cpt :: empanelment :: articles on VAT and GST in India :: VAT RATES :: due date for vat payment
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

Gold worth Rs 35 lakh seized from Dubai passenger
April, 21st 2012

The fear of rise in the smuggling of gold after the hike in customs duty, reflected in the recent Union Budget, came true at the Sardar Vallabhbhai Patel International Airport at Ahmedabad on Friday. Customs officials at the Ahmedabad airport seized 1.2 kilograms of gold from a passenger from Dubai.

Shabir Ismail Lokhandwalla, a resident of Mumbai, was caught smuggling 1.2 kilograms of gold chain by the customs officials at the international airport in Ahmedabad. According to the officials the total amount of gold seized was worth Rs 35 lakh.

Lokhandwalla was travelling in a flight connecting Dubai to Mumbai. According to customs officials, the accused told them that he had boarded a flight to Mumbai via Ahmedabad because he could not get tickets in other low-cost flights to Mumbai .

After his flight from Dubai landed at the Ahmedabad airport, Lokhandwalla walked through the Customs Green Channel at the airport. The customs officials on duty got suspicious because of his strange behavior.

"Owing to his suspicious body language at the Customs Green Channel, the passenger was spotted by sepoy RV Desai. Subsequently, he was frisked by a customs officer during which 135 gold chains weighing around 1.2 kilograms was found in a hidden pocket inside his trouser," said a customs official. "We got suspicious when we saw the person was adjusting his trouser repeatedly. "

According to the customs officials Lokhandwalla said that he was carrying the gold for someone else for a fee of Rs 40,000. "He admitted that he has been flying to India every month to deliver such packets from Dubai," said the custom official.

A passenger is allowed to bring up to 1 kilogram of gold by paying duty. However, quantities greater than 1 kilogram are seized and the person carrying it is prosecuted under Customs Act 1962.

The customs officials said that that Lokhandwalla has been booked for not declaring that he was carrying more than 1 kilogram of gold.

The recent Union Budget doubled the customs duty on standard gold from 2% to 4% and on non-standard gold from 5% to 10% from the financial year 2012-13.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions