25 August 2016
Section 28 AAA of the Customs Act 1962 , prescribes the procedure to recover Customs Duty in case of fraudulent acquisition of instrument for the purpose of Customs Act or Foreign Trade ( Development & Regulation) Act 1992 as amended. For example A misuses duty free inputs/ capital goods without discharge of export obligation under foreign trade policy , under section 28AAA of Customs Act, the consignment (s) of import of A can be confiscated towards penalty payable on the misuse of inputs /capital goods.
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