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of <h1>Understanding Key Definitions in The Customs Act, 1962: Adjudicating Authority, Assessment, and Beneficial Owner Explained</h1> The Customs Act, 1962, defines key terms relevant to customs operations in India. An 'adjudicating authority' is any authority competent to make decisions under the Act, excluding certain higher bodies. 'Aircraft' and 'Appellate Tribunal' are defined as per respective acts. 'Assessment' involves determining the dutiability and payable amounts on goods, considering various factors like classification, value, exemptions, and origin. 'Baggage' includes unaccompanied baggage but excludes vehicles. 'Beneficial owner' refers to individuals controlling imported or exported goods. Definitions extend to terms like 'bill of entry,' 'coastal goods,' 'customs area,' 'dutiable goods,' 'export,' 'import,' 'prohibited goods,' and 'warehouse,' among others, establishing a comprehensive framework for customs regulation.
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