26th June, 2013
To enable the Customs department to enhance the level of facilitation and speed up the process of cargo clearance, Risk Management System (RMS) is set to be introduced for exports from India. This procedure, already operational in respect of imports into India, is being implemented in respect of exports, from 15th of July this year in ICD Mulund (Mumbai) and ICD Patparganj (Ne...
By Atish Laddha
The Central Excise law provided for physical control for all commodities except a few in the past. However, subsequently self-assessment mechanism was introduced in Central Excise in which the revenue authorities’ role at the time of clearance of goods has be...
By V. Sridhar
In the Budget of 2011 changes were made in the Customs Act, 1962 so as to introduce a new concept of self-assessment and post-clearance audit. This article briefly analyses the new provisions, their implications to the revenue administration and to the community of importers and exporters.
Before getting into specifics, it would be useful to refer to a trend that has been e...
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