LLM Group 2 Business Law Law Relating To Customs And Foreign Exchange 2022 Question Paper - Mumbai University | munotes

Questions asked in this paper

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SECTION I - Form 20090. Attempt any four questions, all questions carry 25 marks (any four of seven) 100 Marks

1. 1. Discuss in elaborate details, the nature of contraventions, penalties and compounding as provided under the Foreign Exchange Management Act.
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2. 2. Critically evaluate the salient provisions relating to Assessment and Provisional Assessment of Duty under the Indian Customs Act.
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3. 3. Define and describe in appropriate details, the powers of Customs Officers with respect to Search, Seizure and Arrest of person under the Customs Act.
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4. 4. Critically evaluate the concept of '33Presumption of Culpable Mental State' and also discuss salient provisions and rules related to Interpretation of Customs Laws.
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5. 5. Critically evaluate the concept of Capital and Current Account transactions as provided under the Foreign Exchange Management Act.
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6. 6. Discuss in elaborate details, the concept of and circumstances under which the Refund of export and import duty can be asked for and allowed under the provisions of the Indian Customs Act.
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7. 7. Write Notes on Any Two of the following:
   • (a) 'Abatement' under Foreign Exchange Management Act.
   • (b) Provisions related to Warehouse as provided under the Indian Customs Act.
   • (c) Ways and means to increase Foreign Direct Investment in India.
   • (d) Provisions related to 'Export and Import of Goods' as given under the Indian Customs Act.
   • (e) Powers of the Reserve Bank of India as given under the provisions of the Foreign Exchange Management Act.
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