Section 28aaa
This query is : Resolved
CA Ankith Jain
(Querist)
24 April 2016
Dear all, Can anyone please help me as to what Section 28AAA means in simplified way, if possible with example? Please reply.
CA Prateek Garg
(Expert)
25 April 2016
section 28AAA of which act?
CA Ankith Jain
(Querist)
25 April 2016
28AAA of customs act sir.
CA Ankith Jain
(Querist)
25 April 2016
Customs act sir
Dr.RAMAKRISHNA. C
(Expert)
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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