Customs duty definitions clarified under Finance Bill, setting scope and an enactment date effectiveness for amendments. Amendments in the Finance (No. 2) Bill, 2019 clarify that Basic Customs Duty means the customs duty under the Customs Act, 1962; Export duty means the ... Summary
Customs duty definitions clarified under Finance Bill, setting scope and an enactment date effectiveness for amendments.
Amendments in the Finance (No. 2) Bill, 2019 clarify that Basic Customs Duty means the customs duty under the Customs Act, 1962; Export duty means the customs duty on goods in the Second Schedule to the Customs Tariff Act, 1975; and Road and Infrastructure Cess means the additional duty under section 111 of the Finance Act, 2018. Amendments become effective on enactment unless otherwise specified, and clause numbers are shown in square brackets.
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