Custom Law
The Customs Act of 1962 is the most crucial Act that provides for the implementation and collection of duty on goods imported and exported in the country. This Act also deals with the Import and Export procedures, Prohibitions on importation and exportation of goods, penalties, offences and much more.
The following purposes are the reason why Customs Duty is levied on the import and export of goods in India.
- To restrict the imports for conserving foreign exchange.
- To protect the imports and exports of goods for achieving the policy objectives of the Government.
- To regulate export
- To co-ordinating legal provisions with other laws dealing with the foreign exchange such as the Foreign Trade Act and the Foreign Exchange Regulation Act.
- To safeguard domestic trade.
- To protect the revenue of resources.
- To protect the industries in India from unfair competition.
- To prevent the smuggling of goods and activities related to the same.
- To prevent the dumping of goods.
Regulations under the Customs Act
Under Section 157 of Customs Act of 1962, the Board has the authority to make rules that are consistent with provisions of the Act to carry out the purposes of the Act. Various regulations have been framed under these powers such as the ones stated below.
- Project Import Regulations of 1986: Procedures for project imports
- Customs House Agents Licensing Regulations of 1984
Key: Custom Lawyers in Delhi, Lawyers for Custom Cases in Delhi, Bail Lawyers for Custom Cases in Delhi.
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