CUSTOM ACT, 1962
1. LEVY OF CUSTOMS DUTY Customs Act applies to the whole of India and also to any offence or contravention under the Customs Act committed outside India by any person. Customs duty is levied on imports into or exports from India vide Section 12 of the Customs Act, 1962 (hereinafter referred to as the ‘Customs Act’ ) at the rates prescribed under the Customs Tariff Act, 1975 read with the relevant exemption notification/s. Import [ [1] ] is defined as ‘import, with its grammatical variations and cognate expressions, means bringing into India from a place outside India’ . In the landmark decision of Kiran Spinning Mills v. C. C. 1999 (113) ELT 753 (SC) , Hon’ble Supreme Court held that import gets completed only when the goods cross Customs barriers and that is the time when import duty has to be paid. Export [ [2] ] is defined as ‘Export, with its grammatical variations and cognate expressions, means taking out of India to a ...