Customs Act

Customs allows post-clearance revisions - of course, conditions apply

New CBIC rules let importers and exporters voluntarily revise shipping bills and pay or claim duty differences after clearance

DRI busts racket involved in duty evasion in branded furniture imports

DRI officers have busted a racket involved in undervaluation of imports of branded luxury furniture and arrested three persons for customs duty evasion of Rs 30 crore, the finance ministry said on Tuesday. Investigation conducted thus far revealed that branded luxury furniture was being directly sourced by a beneficial importer from reputed Italian and other European suppliers, and invoicing was being done in the names of shell companies based in jurisdictions such as Dubai. In parallel, fabricated invoices were obtained through a Singapore-based intermediary in the names of dummy importers falsely declaring the goods as unbranded furniture at significantly undervalued rates to Customs. Once cleared through Customs, the goods were transferred on paper to the intended beneficial owner via a local intermediary created for this purpose, while the goods were directly sent to the customer on the instructions of beneficial owner. "Preliminary findings indicate a gross undervaluation of 7

DRI busts major multi-crore branded luxury furniture import racket

The Directorate of Revenue Intelligence uncovers a multi-crore racket involving undervaluation and misdeclaration of luxury furniture, leading to significant customs duty evasion

Goods exempted under notifications can be brought into bonded warehouses

RBI itself allows initial period of 9 months to realise export proceeds

CBIC must re-examine, clarify on non-duty paid inputs for drawback

Section 75(1) of the Customs Act, 1962, allows drawback of the Customs and Central Excise paid on the inputs used in the manufacture or processing of the export products

Ranya Rao gold smuggling controversy: What India's customs rules say

Kannada actress Ranya Rao was caught smuggling gold at Bengaluru Airport. Here's a look at India's customs rules on gold, cash limits, and penalties under the Customs Act of 1962

Anticipatory bail applicable to GST, customs law even in absence of FIR: SC

In a significant verdict, the Supreme Court on Thursday held that the provision of anticipatory bail is applicable to the Goods and Services Act and customs law and persons can move courts for pre-arrest bail even if an FIR is not in place. A bench comprising Chief Justice Sanjiv Khanna and Justices MM Sundresh and Bela M Trivedi had reserved the verdict on May 16, last year on a batch of pleas challenging the penal provisions in the Customs Act, the GST Act as being non compatible with the Code of Criminal Procedure CrPC and the Constitution. Pronouncing the verdict, the CJI said the provisions of CrPC and the subsequent law, Bharatiya Nagarik Suraksha Sanhita (BNSS), on issues like anticipatory bail would be applicable to persons under the Customs and the GST Acts. It held that persons facing possible arrest under the GST and Customs Acts are entitled to seek anticipatory bail, even before an FIR is registered. The detailed judgement is awaited. The lead petition was filed by on

Customs should not act while redemption application is pending with DGFT

Rule 53 of the SEZ Rules, 2006 has no provision to count any supply from a SEZ unit to a bonded warehouse as earnings for the purpose of NFE calculations

SC restores DRI's key powers; Rs 20K cr Customs duty recovery back on track

Setback for Vedanta, Vi, Adani Enterprises, Canon, and 104 others

SC rules in favour of DRI authority; clears recovery of Rs 20,000 cr tax

This ruling confirms that DRI officers qualify as "proper officers" under Section 28 of the Customs Act, enabling them to issue show-cause notices

Customs, DRI seize 847 kg of gold worth Rs 544 cr at airports in Q1: FM

Customs and DRI officers have seized 847 kg of gold worth Rs 544 crore at various airports in the three months of the current fiscal till June, Finance Minister Nirmala Sitharaman said on Tuesday. In a written reply to a question in the Rajya Sabha, Sitharaman gave details of gold seizure cases at airports and seaports by Customs field formations and Directorate of Revenue Intelligence (DRI) from FY 2021-22 to FY 2024-25. In FY25, up to June 2024, 847.43 kg of gold was seized in 1,282 cases. The value of seized gold is Rs 543.61 crore. In the 2023-24 fiscal, there were 5,962 cases of seizure at airports with 3,714 kg of gold worth Rs 2,081 crore getting seized. In 2022-23, seizure of 2,776 kg of gold worth Rs 1,382 crore was made. In 2021-22, about 1,240 kg of gold worth Rs 572 crore was seized at the airports. The minister said Customs field formations are regularly sensitised to newer methods of smuggling. "On detection of gold smuggling cases, action is taken in accordance wi

Customs can ask for purchase invoices from exporters claiming DBK, Rodtep

Rule 9 of the Customs and Central Excise Duties Drawback Rules, 2017 and proviso at Para 2(1)(b) of notification no.76/2001-Cus (NT) dated 23rd September 2021 put a cap on the amount of drawback

India, Hong Kong customs dept unearth trade-based money laundering case

The Indian and Hong Kong Customs have unearthed a major case of Trade-Based Money Laundering (TBML) involving Hong Kong-based exporters and Indian importers located in a Special Economic Zone (SEZ), the finance ministry said on Friday. In an exemplary case of bilateral cooperation and exchange of information, this crackdown showcases investigation and enforcement actions taken by both administrations under their respective laws to expose an international cartel. DRI had unearthed a case of Trade-Based Money Laundering from a SEZ, wherein cheap synthetic diamonds were being imported into India in the guise of natural diamonds, to remit foreign currency out of India. Investigations revealed that cheap synthetic diamonds were being mis-declared as natural diamonds and overvalued more than 100 times and being imported from firms based in Hong Kong to SEZ in India. During the investigation, it was also observed that some real diamonds were imported but replaced with synthetic diamonds a

Chatroom: 'Interest can be claimed on delayed payment of drawback'

You can claim interest on the pre-deposit amount in accordance with Section 129EE of the Customs Act, 1962

Settlement Commission looks to raise awareness through FAQs

Where the taxpayers are doubtful on whether they will be penalized, it makes sense to opt for settlement and get a quick closure. For them, the latest FAQs give a quick initiation

'In CIF/CFR contracts, the seller bears risk of variation in freight rates'

'As long as you expect to realise the CIF/CFR value of the goods and declare it correctly in your shipping bill/EDF, there is no violation under FEMA'

Chatroom: 'Drawback of IGST also available on re-export of imported goods'

This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed

CBIC revises guidelines on arrest, prosecution for Customs violations

Central Board of Indirect Taxes & Customs has streamlined the monetary limit for exercising arrest, prosecution and bail with respect to offences committed under the Customs Act

SME Chatroom: 'IGCR Rules apply only when exemption notifications say so'

the duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the said IGCR Rules.

Helpful changes in Customs and GST procedures

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products