https://www.taxtmi.com/article/detailed?id=14273 Classification distinguishes Notified Goods, notified by government or customs to attract specific procedures, duties, exemptions or restrictions, from Specified Goods, identified under the FTP or DGFT notifications as subject to licensing, quotas, or trade promotion schemes. Notifications under the Customs Act and specifications under the Foreign Trade (Development and Regulation) Act create obligations at customs clearance; import without required license risks detention, denial of clearance, duty and penalty liabilities, and necessitates engagement with licensing or regularization mechanisms. en-us Thu, 01 May 2025 08:49:21 +0530 Thu, 01 May 2025 08:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14273 Classification distinguishes Notified Goods, notified by government or customs to attract specific procedures, duties, exemptions or restrictions, from Specified Goods, identified under the FTP or DGFT notifications as subject to licensing, quotas, or trade promotion schemes. Notifications under the Customs Act and specifications under the Foreign Trade (Development and Regulation) Act create obligations at customs clearance; import without required license risks detention, denial of clearance, duty and penalty liabilities, and necessitates engagement with licensing or regularization mechanisms. Articles Customs - Import - Export - SEZ Thu, 01 May 2025 08:49:21 +0530 https://www.taxtmi.com/article/detailed?id=14273