Quoting the relevant provisions of the law, state the relevant dates for determining: (a) Rate of duty, when warehoused goods are removed for home consumption.
CS Professional · Advanced Tax Laws and Practice · PYQS · December 2015
Quoting the relevant provisions of the law, state the relevant dates for determining: (a) Rate of duty, when warehoused goods are removed for home consumption.
Answer & Explanation:
As per Section 15(1)(b) of the Customs Act, 1962, rate of duty as prevalent on date of presentation of Bill of Entry for clearance for home consumption from warehouse is applicable and not the rate prevalent when goods were removed from customs port.
Topics: Customs Law
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