Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: cpt :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: VAT RATES :: due date for vat payment
Customs and Excise »
 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
 Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.
 Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017
 Central Board of Excise and Customs to soon notify new procedural framework
 CBEC set to be Central Board of Indirect Taxes and Customs
 Govt to give customs, excise duty benefits to boost solar rooftop sector

Customs authorities seize gold worth Rs 45 lakh at IGI Airport
September, 04th 2013

Even as gold imports continue to decline due to stringent measures taken by the government, smuggling of the yellow metal has continued to increase as a result of import curbs. Customs authorities on Sunday seized smuggled gold worth Rs 45 lakh from a passenger coming from Dubai at IGI airport in Delhi.

Based on suspicion the passenger was searched and one gold bar weighing 1.5kg was recovered from her baggage. The seizure, however, threw up a new modus operandi where the bar was hidden near the handle between the metallic rim and the cloth of the bag.

According to sources, on Sunday, while keeping surveillance on the passengers coming from Dubai sector, one passenger who arrived at IGI airport from Dubai vide flight no EK-514 was intercepted after she crossed the Green Channel.

The passenger's movement was suspicious and customs authorities profiled her for further examination as it was suspected she may have been carrying goods for which duties were not paid.

On detailed examination of her baggage, nothing objectionable was found. However, when it was taken through X-Ray it showed a gold bar hidden near the handle of the bag.

The same was seized under Section 110 of the Customs Act, 1962 and the passenger was arrested under Section 104 of the Act. The total value of the gold biscuits is assessed to Rs 28.32 lakh.

Sources said further investigations were under progress to find out who he was going to deliver the gold biscuits to.

Import duty on gold now stands at 10%, a 1,000 per cent increase in the past couple of years. To plug a yawning current account deficit, the government has been consistently increasing import duty on gold to discourage buyers from investing into it. This has led to a wide gap between prices in Dubai (where duty is just 1%) and India leading to rampant smuggling of the yellow metal.

Financial agencies have reported over 200 consignments of gold seized in the past couple of months alone.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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