Taxmann Customs Law & Practice with Foreign Trade Policy By V S Datey Edition September 2024

This comprehensive handbook provides an in-depth, topic-wise analysis of Customs Law and Foreign Trade Policy in India. It covers key areas such as customs duties, classification, valuation, procedures, exemptions, penalties, appeals, and sector-specific provisions like SEZs and EOUs. It includes practical insights through statutory provisions and case laws. It interlinks Customs, Foreign Trade, and GST Laws for a holistic understanding.

This book is helpful to customs professionals, customs house agents, legal practitioners, and businesses involved in international trade providing clear, accessible commentary and practical tools for understanding complex customs and trade regulations.

The Present Publication is the 26^th Edition and has been amended by the Finance (No. 2) Act 2024. This book is authored by V.S. Datey with the following noteworthy features:

• [Graded Analysis] The book provides a clear, step-by-step approach, starting with foundational concepts and gradually progressing to more complex procedural aspects of customs law. This graded analysis caters to both newcomers seeking a basic understanding and seasoned professionals looking to refine their expertise
• [Comprehensive Coverage of Customs Law] Discusses the four foundational pillars of customs law—Taxable Event, Types of Customs Duties, Valuation, and Rate of Duty—the book provides thorough explanations enriched with statutory provisions and relevant case laws. The key topics include the nuances of assessments, appeals, demands, refunds, and warehousing, ensuring a comprehensive grasp of the customs landscape
• [Detailed Treatment of Customs Procedures] Extensive sections cover customs procedures such as import and export processes, customs clearance, self-assessment, provisional assessment, and best judgment assessment. Additionally, baggage rules, courier and postal imports/exports, and warehousing regulations are discussed in detail
• [Practical Insights with Case Law Analysis] The commentary is fortified with a wide array of important case laws, including discussions on contradictory judgments. This practical approach enables professionals to anticipate different judicial outcomes and draft precise responses to show cause notices
• [Foreign Trade Policy 2023] A comprehensive section dedicated to the Foreign Trade Policy 2023 covers key areas such as the Export/Import Policy of Goods, procedures for Advance Authorisation/DFIA, EPCG, RoDTEP/RoSCTL, and sector-specific schemes for gems and jewellery, EOUs, STPs, EHTPs, and SEZs. This section is designed to provide clear guidance on the application of the policy in various trade scenarios
• [Interlinking of Customs, Foreign Trade, and GST Laws] The book offers an integrated view by interlinking Customs Law, Foreign Trade Policy, and GST Law, providing insights into how these laws interact and impact overall trade operations. This interconnected approach is particularly beneficial for professionals dealing with multi-faceted trade and tax compliance issues
• [Administrative and Enforcement Insights] In addition to statutory provisions, the book sheds light on the administrative setup and enforcement mechanisms within customs, including the powers of customs officers, the binding nature of departmental circulars, and the procedures for departmental adjudication
• [Sector-Specific Guidance and Special Provisions] It includes tailored content for specialised sectors such as gems and jewellery, EOU/STP/EHTP/BTP units, and SEZs, providing specific guidance on compliance, benefits, and procedural requirements unique to these sectors. The focus on sector-specific provisions makes the book highly relevant for entities operating in these specialised areas
• [Focused Analysis on Penalties, Appeals, and Adjudication] The book thoroughly examines penalties related to customs violations, including improper imports/exports, undervaluation, and suppression of facts. It details the complete appeals process from initial departmental levels to higher judicial authorities like the High Court and Supreme Court
• [Practical Tools for Reference and Navigation] To facilitate ease of use, the book includes practical tools such as detailed chapter heads, a section-wise index, a glossary of acronyms, and a comprehensive table of contents

The book is organised into distinct chapters, each focusing on critical aspects of Customs Law and Foreign Trade Policy:

• Introduction to Customs Duty
  • It covers the basics, including the nature of customs duties, the classification and rate of customs duty
• Types of Customs Duties
  • Provides a detailed breakdown of various duties such as Basic Customs Duty, IGST, GST Compensation Cess, Social Welfare Surcharge, Protective Duties, Countervailing Duties, Anti-Dumping Duty, Safeguard Measures, and Export Duty
• Classification and Valuation of Goods
  • Discusses the principles and rules for classification under the Customs Tariff Act, valuation methods in line with WTO guidelines, and specific valuation challenges such as second-hand goods and specialised items
• Procedural Aspects of Customs
  • Details the step-by-step customs procedures for imports, exports, warehousing, and special provisions for bonded goods, ensuring comprehensive procedural knowledge
• Exemptions, Remissions, and Concessions
  • Discusses the conditions and interpretations of exemptions from customs duties, including specific exemptions for projects and goods under certain schemes, guiding maximising compliance benefits
• Enforcement, Penalties, and Appeals
  • It covers the enforcement powers of customs officers, the adjudication process, penalties for non-compliance, confiscation, and the full spectrum of appeal options, including appellate tribunals and judicial remedies
• Foreign Trade Policy Insights
  • Provides a discussion on Foreign Trade Policy 2023, including key changes, procedural updates, and specific guidelines for compliance with various schemes like EPCG, RoDTEP, SEZs, and more
• Special Economic Zones and Deemed Exports
  • Details the policies, procedural requirements, and benefits associated with SEZs and deemed exports, providing targeted insights for businesses involved in these specialised trade zones
• Miscellaneous Provisions and Advanced Topics
  • Includes discussions on the administration of customs laws, quality complaints, trade disputes, cross-border trade in the digital economy, and duty drawbacks