Section 78 of Finance Act 2018 : Amendment of section 50 Customs Act

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

Section 78 of Finance Act 2018

[Section 78 of Finance Act 2018 deals with Amendment of section 50 and is covered in CHAPTER IV INDIRECT TAXES]

Amendment of section 50

78 . In the Customs Act, in section 50,—

(i)in sub-section (1),—
(a)after the word “electronically”, at both the places where it occurs, the words “on the customs automated system” shall be inserted;
(b)for the words “in the prescribed form”, the words “in such form and manner as may be prescribed” shall be substituted;
(ii)after sub-section (2), the following sub-section shall be inserted, namely:—
“(3) The exporter who presents a shipping bill or bill of export under this section shall ensure the following, namely:—
(a)the accuracy and completeness of the information given therein;
(b)the authenticity and validity of any document supporting it; and
(c)compliance with the restriction or prohibition, if any, relating to the goods under this Act or under any other law for the time being in force.”.

Finance Act 2018 : Assented by President : Download Print Notification

 

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