First charge for customs dues overrides conflicting laws, subject to specified insolvency and debt-recovery exceptions. Any amount of duty, penalty, interest or other sum payable under the Customs Act is a first charge on the property of the assessee or other liable person, notwithstanding anything inconsistent in any Central Act or State Act. This priority is subject to the express exceptions preserved for section 529A of the Companies Act, the Recovery of Debts Due to Banks and Financial Institutions Act, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, and the Insolvency and Bankruptcy Code, 2016.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
First charge for customs dues overrides conflicting laws, subject to specified insolvency and debt-recovery exceptions.
Any amount of duty, penalty, interest or other sum payable under the Customs Act is a first charge on the property of the assessee or other liable person, notwithstanding anything inconsistent in any Central Act or State Act. This priority is subject to the express exceptions preserved for section 529A of the Companies Act, the Recovery of Debts Due to Banks and Financial Institutions Act, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, and the Insolvency and Bankruptcy Code, 2016.
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