Podcast
Questions and Answers
What is the main objective of the Customs Act 1962?
What is the main objective of the Customs Act 1962?
- Promoting international trade relations
- Safeguarding domestic trade (correct)
- Regulating the transportation of goods within India
- Controlling the export of goods
What does the term 'Importer' refer to as per the Customs Act?
What does the term 'Importer' refer to as per the Customs Act?
- Government official responsible for customs clearance
- Owner/Person who imports goods (correct)
- Customs officer in charge of verifying imported goods
- Shipping company responsible for transportation
What is the scope of the Customs Act in terms of empowering the Central Government?
What is the scope of the Customs Act in terms of empowering the Central Government?
- Imposition of export duties
- Enactment of Customs Valuation Rules, 1988 (correct)
- Control over immigration policies
- Regulation of international trade agreements
Who is considered as the Adjudicating Authority under the Customs Act?
Who is considered as the Adjudicating Authority under the Customs Act?
What is the definition of 'Baggage' as per the Customs Act?
What is the definition of 'Baggage' as per the Customs Act?
Which authority is empowered to pass an order under the Customs Act 1962?
Which authority is empowered to pass an order under the Customs Act 1962?
What are the Indian Customs Waters as per the Customs Act?
What are the Indian Customs Waters as per the Customs Act?
What does the term 'Import' mean as per the Customs Act?
What does the term 'Import' mean as per the Customs Act?
Which rules empower the Central Government to implement the purpose of the Customs Act?
Which rules empower the Central Government to implement the purpose of the Customs Act?
What is considered as 'Baggage' as per the Customs Act?
What is considered as 'Baggage' as per the Customs Act?
Flashcards
Customs Act 1962 Objective
Customs Act 1962 Objective
Protecting domestic trade.
Importer (Customs Act)
Importer (Customs Act)
The person who brings goods into India.
Customs Act's Central Govt. Power
Customs Act's Central Govt. Power
Creating customs valuation rules.
Customs Act's Adjudicating Authority
Customs Act's Adjudicating Authority
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Customs Act 'Baggage' Definition
Customs Act 'Baggage' Definition
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Customs Act Order Authority
Customs Act Order Authority
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Indian Customs Waters
Indian Customs Waters
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Customs Act 'Import' Definition
Customs Act 'Import' Definition
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Customs Valuation Rules
Customs Valuation Rules
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Study Notes
Objectives and Scope of the Customs Act 1962
- The main objective of the Customs Act 1962 is to regulate the import and export of goods in India.
Key Definitions
- An 'Importer' refers to the owner of the goods or any person holding himself out to be the importer of the goods.
- 'Baggage' refers to any personal effects, which are in the possession of a passenger or a member of the crew, and are not intended for sale or gift.
Empowerment of Central Government
- The Customs Act empowers the Central Government to formulate rules and regulations for the implementation of the Act.
Adjudicating Authority
- The Adjudicating Authority under the Customs Act is the Commissioner of Customs or any officer of Customs who is assigned the powers of an Adjudicating Authority.
Authority and Jurisdiction
- The Commissioner of Customs or any other authorized officer is empowered to pass an order under the Customs Act 1962.
- The Indian Customs Waters extend up to 12 nautical miles from the coastline of India.
Import and Rules
- 'Import' means bringing goods into India from a place outside India.
- The Customs Act is implemented through the Customs Rules, 1962, and the Central Government is empowered to formulate these rules.
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Description
Test your knowledge of the Customs Act 1962 and related topics such as customs duty, valuation mechanism, duty drawback, baggage rules, and computation of assessable value and duty. Learn about the objectives and scope of the act as well as its historical background.
