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 :: empanelment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TDS :: cpt :: VAT Audit :: form 3cd
 
 
Customs and Excise »
 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
 IGST on high-seas sale of imports is levied only during customs clearance
 Central Excise Rules, 2017 – Part II
 Central Excise Rules, 2017 – Part I
 Allocate the charges amongst the Members of the Central Board of Excise and Customs
  Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.
 4 new members appointed in Central Board of Excise and Customs

Govt introduces bill to amend Customs Act
August, 09th 2011

Government today introduced a Bill in Lok Sabha to amend customs law with a view to facilitate recovery of taxes worth thousands of crore of rupees.     

The Bill will validate the show cause notices issued by Customs officers, which were rendered invalid by the Supreme Court as they were not issued by proper officers, Finance Minister Pranab Mukherjee said while introducing the Bill.     

The introduction of bill was necessitated as a large number of show cause notices for demand of duty were held invalid by the Supreme Court on the ground that they were not issued by 'proper officers', said the statement of objects and reasons of the bill.     

Earlier, the Union Cabinet had cleared the proposal to amend the Customs Act, 1962, to get specified customs officers authorised for assessment of import duty.     

The bill seeks recognition to certain customs officials from retrospective effect. On July 6, the Government had specified officers as 'proper officers' for issuing show cause notices for demand of customs duty.     

"Notwithstanding anything to the contrary contained in judgement, decree or order of any court of law...all persons appointed as officers of customs...before July 6, 2011 shall be deemed to have and always had the power of assessment... and have been proper officers for the purpose (to issue show cause notice)," the bill tabled in the House said.     

As a consequence of the amendment bill, government would be able to recover customs duty worth several thousands of crore.     

Officers of the Directorate of Revenue Intelligence (DRI) have alone issued notices involving customs duty to the tune of over Rs 7,500 crore.     

Passage of the bill would also ensure that tax evaders will not get benefited at the expense of exchequer on a mere technical ground.     

The proposed amendment would safeguard government revenue involved in the show cause notices issued by different tax authorities, including Commissionerates of Customs, DRI, Directorate General of Central Excise Intelligence and Central Excise Commissionerates.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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