Imposition and Circumstances for Levy of Custom Duty

Imposition and Circumstances for Levy of Customized Duty, here we are providing Total details for Levy of Custom Task. In this article you can discover complete details for Imposition and Circumstances for Levy of Custom Duty like– Identifying Aspects, Points and Situations of Levy, Charging Section [ Section 12 ], Difference In Between House Usage & Warehousing, Responsibility Liability in some special circumstances, Concessional Task payable, Conditions to be pleased for Concessional Payment, Exemption offered etc. Now you can scroll down below and inspect more information for “Imposition and Scenarios for Levy of Customized Responsibility”

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Imposition and Situations for Levy of Custom Responsibility

Identifying Aspects:–LRB-

  1. Goods, Point, & Scenario
  2. Procedure, Mechanism & Organization
  3. Exemptionon premises of Morality or Equality
  4. Levied on Item– Not on Individual Importing products

Points and Circumstances of Levy

  1. Charging Area [ Section 12 ]
    • No General Exemption on Item imported by Govt, Particular notices are provided.
    • Imposed on Product– Imported or Exported– Such rates as might be prescribed
    • Govt Goods treated at par with Non Govt Product
  2. Difference In Between House Intake & Warehousing:–LRB-
Home Consumption Warehousing

3. Responsibility Liability in some unique circumstances:–LRB-

  • Re-importation of products manufactured/ produced in India [Sec 20]
  • Treated on Par with other products, which are otherwise imported

Must Read– Some Essential Meanings Under Customs Act, 1962

Concessions in this Concerns:–LRB-

1. Concessional Duty payable:–LRB-

Description of Item Amt of Import Task
1. Export under Duty Disadvantage, Rebate, Bond without payment of Duty Amount of Incentive Received
2. Export for repairs abroad Fair expense of Fixes

Conditions to be satisfied for Concessional Payment:–LRB-

  • Goods exported and the re-importation should be very same.
  • There must be no change in the ownership of items.

    2. Exemption readily available:–LRB-

    Item produced in India & Re-imported Time limit for re-importation Other conditions to be pleased
    Fixes or for Reconditioning To Nepal– 10 yearsOthers– 3 years a Need to be Re-exported within 6 months of re-importation b AC/DC needs to be satisifed as regards to identity of products c Execution of a bond
    a. Reprocessingb. Refiningc. Remaking.

    d. Any process

    1 year

    Note The exemption is available even if quantity re-imported is brief or low in amount as long as nature and variety of products is same.

    Product Derelict, Wreck and so on [Sec 21]

    • Shall be handled as if they were imported into India unless it is revealed to the saisfaction of appropriate officer that they are entitled for duty totally free under this Act.
    • The principle of “goods brought into India” is not only confined to items which are deliberately brought into India but things brought into India out of obsession are also dealt with on par with the imported goods.

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