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Financial package part 2 by Government of India to help the economy

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CENTRAL BOARD OF DIRECT TAXES AND ITS POWERS

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Levy of and exemption from custom duty

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Levy of and exemption from custom duty: Dutiable goods. - Except as otherwise provided in this Act, or any other law for the time being in force, duties of customs shall be levied at such rates as may be specified under the Customs Tariff Act, 1975 (51 of 1975), or any other law for the time being in force, on goods imported into, or exported from, India. The provisions of sub-section (1) shall apply in respect of all goods belonging to Government as they apply in respect of goods not belonging to Government. Duty on pilfered goods. - If any imported goods are pilfered after the unloading thereof and before the proper officer has made an order for clearance for home consumption or deposit in a warehouse, the importer shall not be liable to pay the duty leviable on such goods except where such goods are restored to the importer after pilferage. Valuation of goods for purposes of assessment . - .For the purposes of the Customs Tariff Act, 1975 (51 of 1975), or any other la...
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Power and functions of Income Tax Authorities

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