Section 64 of Finance Act 2018 : Amendment of section 28E Customs Act

By | April 1, 2018
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(Last Updated On: April 18, 2018)

Section 64 of Finance Act 2018

[Section 64 of Finance Act 2018 deals with Amendment of section 28E and is covered in CHAPTER IV INDIRECT TAXES]

Amendment of section 28E

64 . In the Customs Act, in section 28E,—

(i)clause (a) shall be omitted;
(ii)for clause (b), the following clause shall be substituted, namely:—
‘(b) “advance ruling” means a written decision on any of the questions referred to in section 28H raised by the applicant in his application in respect of any goods prior to its importation or exportation;’;
(iii)after clause (b), the following clause shall be inserted, namely:—
‘(ba) “Appellate Authority” means the Authority for Advance Rulings constituted under section 245-O of the Income-tax Act, 1961 (43 of 1961);’;
(iv)for clause (c), the following clause shall be substituted, namely:—
‘(c) “applicant” means any person,—
(i)holding a valid Importer-exporter Code Number granted under section 7 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) ; or
(ii)exporting any goods to India; or
(iii)with a justifiable cause to the satisfaction of the Authority,
who makes an application for advance ruling under section 28H;’;
(v)for clause (e), the following clause shall be substituted, namely:—
‘(e) “Authority” means the Customs Authority for Advance Rulings appointed under section 28EA;’;
(vi)in clause (f), for the word “Authority”, the words “Appellate Authority” shall be substituted;
(vii)in clause (g), for the word “Authority”, the words “Appellate Authority” shall be substituted.

Finance Act 2018 : Assented by President : Download Print Notification

 

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