Customs Act was passed in 1962 by parliament. Customs Act was treated as Revenue Act which consists of 17 chapters and 161 sections. The rules under customs act are:
The rates of customs duty was indicated in the customs tariff act 1975 as amended from time to time under Finance Acts. This act contains 2 schedules. In first schedule, it defines the classification and rate of duty for imports. Import duty is levied only a few items. And in second schedule, it defines the classification and rate of duty for exports. Export Duty is levied only on a few items. It makes provisions for duties like anti dumping duty, protective duties etc.
Levy of duties of customs is regulated by the customs act 1962 while the rates of duties are fixed by the Customs Tariff Act 1975.
Import Duty of Taxable Event:It is the day of crossing of customs barrier and not on the date when goods landed in India and entered territorial waters.
कर योग्य घटना का निर्यात शुल्क : यह सीमा शुल्क बाधा पार करने का दिन है, लेकिन जब यह क्षेत्रीय जल को पार करता है तो निर्यात पूरा हो जाता है।