LLM Group 2 Business Law Law Relating To Customs And Foreign Exchange 2016 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Q.P. Code 60993. Attempt any four questions, all questions carry 25 marks each, cite case laws wherever necessary (any four of seven) 100 Marks

1. 1) Critically examine the provisions of the Customs Act, 1962 relating to valuation of goods, chargeability and levy of Customs duties.
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2. 2) Expound the Customs law as regards the Criminal Prosecution and its effectiveness in the present scenario.
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3. 3) Explain the powers of Customs Officers for Search, Seizure and confiscation of the goods under the Customs Act, 1962.
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4. 4) Discuss the provisions of FEMA, 1999 with reference to -
   • (a) Contravention by Companies u/s 42.
   • (b) Adjudication and Appeals.
   • (c) Effect of death or insolvency of a person u/s 43.
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5. 5) Discuss the salient features of the FEMA, 1999 vis-a-vis FERA, 1973 and evaluate the role of RBI under the present Act.
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6. 6) Delineate the following concepts under FEMA, 1999:
   • (a) Capital Account Transactions.
   • (b) Current Account Transactions.
   • (c) Export of Goods and Services.
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7. 7) Write notes on any three (3) of the following:
   • (i) Unjust enrichment
   • (ii) Foreign Trade (Development and Regulation) Act, 1992.
   • (iii) Arrest and imprisonment under FEMA, 1999.
   • (iv) Definition of 'person' under FEMA, 1999.
   • (v) Warehousing of Goods.
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