Ca final - custom
This query is : Resolved
11 April 2013
Hello,
Can anyone please explain in simplified form, the new section inserted under custom act - 28AAA RECOVERY OF DUTIES IN CERTAIN CASES, its applicability, the basic purpose with any example (if possible).
I'm not very much clear after reading it from supplementary amendment book.
Thanks in advance!
Can anyone please explain in simplified form, the new section inserted under custom act - 28AAA RECOVERY OF DUTIES IN CERTAIN CASES, its applicability, the basic purpose with any example (if possible).
I'm not very much clear after reading it from supplementary amendment book.
Thanks in advance!
28 June 2013
28AAA- New
Insertion –
Recovery of
duty in
certain cases
A new section 28AAA is being
inserted to provide for recovery of
duties, from the person to whom
the instrument which was obtained
through collusion etc, was issued
without prejudice to any action that
may be taken against the importer.
Date of enactment
of the Finance Bill,
2012
Certain cases have been detected relating
to utilization of instruments, such as duty
credit scrips, where the instrument was
obtained by means of collusion or wilful
mis-statement or suppression of facts by
the person to whom the instrument was
issued or his agent or employee and not
by the importer who utilized it.
Insertion –
Recovery of
duty in
certain cases
A new section 28AAA is being
inserted to provide for recovery of
duties, from the person to whom
the instrument which was obtained
through collusion etc, was issued
without prejudice to any action that
may be taken against the importer.
Date of enactment
of the Finance Bill,
2012
Certain cases have been detected relating
to utilization of instruments, such as duty
credit scrips, where the instrument was
obtained by means of collusion or wilful
mis-statement or suppression of facts by
the person to whom the instrument was
issued or his agent or employee and not
by the importer who utilized it.
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