Law Relating to Customs and Foreign Exchange Notes | LL.M. Semester 2 | Mumbai University | munotes

Contents

Module I

1. What the Law of Customs Is 1
2. The Definitions That Do the Work 12
3. The Customs Establishment 19
4. The Customs Map: Ports, Airports, Stations and Areas 26
5. The Custom of Charging Customs Duties 32
6. The Duties in the Tariff: Basic, Integrated and Preferential 38
7. Trade Remedy and Emergency Duties 46
8. Reading a Taxing Statute: the Rules of Interpretation 55
9. Classifying Goods: the First Schedule and Its General Rules 62
10. Prohibiting Imports and Exports: Section 11 68
11. Notified Goods: Detecting Illegal Imports 75
12. Specified Goods: Preventing Illegal Exports 82
13. The Charge Applied: Pilferage, Sets, Re-import and Derelict Goods 88
14. Abatement and Remission: Damaged, Lost and Abandoned Goods 95
15. Valuation: Section 14 and the 2007 Rules 101
16. The Date That Fixes the Rate 109
17. Assessment: Self-Assessment, Verification and Provisional Duty 116
18. Recovery of Duties Not Levied or Short-Paid 124
19. Advance Rulings 133

Module II

1. The Exemption Power: Section 25 141
2. Withdrawing an Exemption: Promissory Estoppel Against the State 149
3. Refunds Under Sections 26 and 26A 157
4. The Refund Claim: Section 27 and Unjust Enrichment 164
5. Duty Drawback 172
6. Conveyances Arriving and Leaving India 179
7. Clearance of Imported Goods 187
8. Clearance of Export Goods and Payments 195
9. Transit, Transhipment and Fishing Operations 202
10. Baggage 209
11. Goods by Post and Courier 216
12. Ship's and Aircraft Stores 222
13. Coastal Goods and Coasting Vessels 229
14. Audit and Identity Verification 236
15. Licensing Warehouses 242
16. The Warehousing Bond and the Warehousing Period 248
17. Manufacture in a Warehouse 256
18. Moving and Clearing Warehoused Goods 263
19. Improper Removal and the End of Warehousing 270
20. Searching Persons 278
21. Arrest Under the Customs Act 286
22. Searching Premises, Examining Persons and the Section 108 Summons 294
23. Seizure and Provisional Release 304
24. Confiscating Improper Imports 311
25. Confiscating Improper Exports and the Fraud Penalties 320
26. Confiscating Conveyances, Packages and Proceeds 330
27. Adjudication: Notice, Hearing and the Order 339
28. Burden of Proof, Redemption Fine and Vesting 347
29. Settlement of Cases: a Chapter That Closed 355
30. The First Appeal: Commissioner (Appeals) 363
31. The Appellate Tribunal 370
32. To the High Court and the Supreme Court 381
33. The Offences 389
34. Prosecution: Cognizance, Compounding and Evidence 398
35. The Working Margin: Agents, Recovery and Service 410
36. The Closing Provisions 422

Module III

1. Why the Law Manages Foreign Exchange 432
2. From FERA to FEMA: the Historical Background 439
3. FERA and FEMA Distinguished 447
4. Repeal, Savings and the Sunset 456
5. Currency, Foreign Exchange and Foreign Security 463
6. Dealing in and Holding Foreign Exchange 472
7. Authorised Persons 480
8. The Scheme and Noteworthy Features of FEMA 492
9. The Directorate of Enforcement and Investigation 501

Module IV

1. Person, and Resident In and Outside India 510
2. Capital Account and Current Account Transactions 518
3. Export, Transfer and Service as Defined Concepts 526
4. Export of Goods and Services 534
5. Contraventions and Penalties: Section 13 543
6. Enforcing the Order: Civil Imprisonment and the Unborn Section 14A 551
7. Compounding Contraventions 560
8. Adjudication 569
9. Appeals: Special Director to the High Court 579
10. Foreign Direct Investment in India 590
11. FDI Instruments, Reporting and Enforcement 605
12. The FTDR Act: Scheme, Orders and the Foreign Trade Policy 615
13. The IEC, Licences and Quantitative Restrictions 625
14. FTDR Penalties, Adjudication and Appeals 637
15. Export Controls on Specified Goods: the WMD Chapter 652