Taxmann Customs Law & Foreign Trade Policy by VS Datey – 24th Edition April 2022

This book provides a subject/topic-wise, comprehensive yet concise commentary on Customs Law & Foreign Trade Policy in India.

The Present Publication is the 24^th Edition authored by V.S. Datey. The law stated in this book is amended by the Finance Act 2022 with the following noteworthy features:

• [Graded Analysis] starting from the background/basic aspects of the law followed by the procedural aspects in simple language
• [All-Important Case Laws] have been discussed and explained briefly and concisely, along with contrary decisions, which will enable the professionals to draft suitable replies to show cause notices
• [Comprehensive Analysis on Customs Law] with statutory provisions and case laws
  • [Four Pillars of Customs Law] which includes discussions on the following four pillars of customs law:
    • Taxable Event
    • Types of Customs Duties
    • Valuation
    • Rate of Duty, including classification, exemptions and remissions
  • [All-important Topics] which includes analysis of the following:
    • Assessments & Appeals
    • Demands
    • Refunds
    • Duty Drawback
    • Warehousing
• [Detailed Explanation of Export Promotion Schemes] such as:
  • Duty Credit Schemes
  • Advance Authorisation
  • Duty-Free Import Authorisation Scheme
  • Export Promotion Capital Goods Scheme
  • Duty Drawback
  • Deemed exports
  • Export Oriented Units
  • Special Economic Zones

The detailed contents of the book are as follows:

• Introduction to Customs Duty
• Types of Custom Duty
• Classification of Goods
• Principles of Classification of Goods
• Valuation for Customs Duty
• Methods of Valuation for Customs
• Valuation of Export Goods
• Assessment in Customs
• Administrative Set-Up of Customs
• Customs Procedures
• Import Procedures
• Export Procedures
• Customs Brokers
• Baggage
• Customs Procedure for Courier and Post
• Exemption from Customs Duty
• Interpretation of Exemption Notification
• Specific Exemptions in Customs
• Remission, Re-Imports and Re-Exports
• Departmental Adjudication
• Demands of Customs Duty and Interest
• Interest for Delayed Payment of Customs Duty
• Demands for Undervaluation of Customs Duty
• Demands for Suppression, Wilful Misstatement or Collusion
• Recovery of Dues
• Refund of Customs Duty and Interest
• Warehousing in Customs
• Enforcement Powers of Customs Officers
• Penalties of Non-Payment Customs Duty
• Other Penalties in Custom Act
• Confiscation in Customs
• Miscellaneous Provisions in Customs Law
• Criminal Offences in Customs
• Settlement Commission
• Proofs in Adjudication and Prosecution
• Appeals – General Provisions
• Departmental Appeal and Review
• First Appeal and Revision
• Appeal to Tribunal
• Powers and Limitations of Tribunal
• Appeal to High Court and Supreme Court
• Overview of Foreign Trade Policy 2015-20
• FT (D&R) Act and Rules
• Procedures under Foreign Trade Policy
• Policy for Import and Export of Goods
• Export Promotional Measures
• Advance Authorisation
• Duty-Free Import Authorisation (DFIA)
• Gem and Jewellery Units
• Duty Drawback
• EPCG Authorisation
• EOU/STP/EHTP/BTU
• Other Schemes similar to EOU
• Deemed Exports
• Special Economic Zones