Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: form 3cd :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT RATES :: TDS :: VAT Audit :: cpt
 
 
Customs and Excise »
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
 Customs And Central Excise Drawback – Part II
 Customs Valuation (Determination of Value of Imported Goods) Rules 2007
 Amendment to Customs Valuation Rules – Notification No. 91/2017 (NT)
 GST on Custom House Agents
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes
 The Customs and Central Excise Duties Drawback Rules, 2017
 Man fleeing from Customs arrested
 Refund of amount on account of double-payment of Customs
 SC paves way for trial against RIL in 1987 excise evasion case
 GST: Govt sets up panel to receive profiteering complaints

Finance minister scraps 'draconian' clause in customs law
May, 08th 2012

The finance minister on Monday scrapped a proposed tough amendment in the customs and central excise law that would have made granting of bail only after hearing the public prosecutor, bringing much needed relief for the business community, exporters and importers.

Lawmakers had slammed the proposed changes in the Finance Bill and had termed the provisions as "draconian" . Leader of Opposition in Rajya Sabha Arun Jaitley had also severely criticized the move.

The proposed amendment in the law had said that notwithstanding anything contained in the Code of Criminal Procedure, 1973, no person accused of an offence punishable for a term of imprisonment of three years or more under Section 135 shall be released on bail or on his own bond unless the public prosecutor has been given an opportunity to oppose the application for such release.

Finance minister Pranab Mukherjee, while initiating the discussion on the Finance Bill in Lok Sabha, said he had taken note of the concerns expressed by members. "The House will recall that certain amendments were proposed in the customs and central excise law in respect of the classification of offences as cognizable and non-bailable . In response to concerns expressed by members that the proposal regarding grant of bail only after hearing the public prosecutor is too harsh, I propose to omit this provision entirely ," Mukherjee said.

He said only serious offences under the customs law involving prohibited goods or duty evasion exceeding Rs 50 lakh shall be cognizable. "However, all these offences shall be bailable ," Mukherjee said.

Experts welcomed the move saying it removed uncertainty and fear. "It is a positive move. The key contention was that the court's right to grant bail should not be limited by the appearance of the public prosecutor," said Himanshu Tiwari, partner (indirect tax practice) at consultancy firm BMR Advisors.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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