135AA of the Customs Act
- August 25, 2022
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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135AA of the Customs Act
Subject :Economy
Section :External Sector
Context:
The Central Board of Indirect Taxes and Customs (CBIC) has announced ₹1 lakh penalty for the first offence under section 135AA of the Customs Act.
Details:
Union Budget 2022 inserted section 135AA to protect the import and export data submitted to Customs by importers or exporters in their declarations by making the publishing of such information unless provided by the law, as an offence under Customs Act.
Concept:
135AA of the Customs Act:
- Union budget 2022 inserted section 135AA in the custom Act
- The section prohibits unauthorized publication of import-export data.
- Publication involves informations relating to:
- the value or
- classification or
- quantity of goods entered for export from India, or import into India, or
- the details of the exporter or importer of such goods
- An individual can be punished with six months imprisonment or with a fine that can be extended to Rs 50,000 or both for unauthorised publication of export and import data.
- The penalty can be increased by 100% for each subsequent offence.
Central Board of Indirect Taxes & Customs (CBIC)?
- The Central Board of Indirect Taxes is under the Department of Revenue, Finance Ministry, Government of India.
- The CBIC was previously known as the Central Board of Excise and Customs (CBEC).
- It engages in policy formulation of matters concerned with the levy and collection of central excise duties, customs, central goods and services tax and IGST, administration of these taxes, prevention of smuggling and also narcotics to the extent prescribed.
- The CBIC is the administrative authority for its subordinate organisations, including Central Excise and Central GST Commissionerates, Custom Houses and the Central Revenues Control Laboratory.
- CBIC is a statutory body established under the Central Boards of Revenue Act, 1963.
- CBIC was formed in 1964 when the Central Board of Revenue was split into the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs, which was renamed the Central Board of Indirect Taxes and Customs in 2018.
- The Central Board of Revenue was set up under the Central Board of Revenue Act, 1924 as the apex body of the Income Tax Department.
- The CBIC Chairperson is the senior-most Indian Revenue Service (IRS – Customs & Indirect Taxes) officer in India.
- CBIC Functions
- CBIC administers indirect taxes in India such as goods and services tax, and customs.
- Collection of Goods & Services Tax and previously Central Excise Duty and Service Tax.
- Collection of Customs Duty on Land Customs Stations, Inland Container Depots (ICDs), Special Economic Zones (SEZs) & Container Freight Stations (CFSs).
- Collection of Customs Duty on International Airports, Seaports, Custom Houses, International Air Cargo Stations & International ICDs.
- Prevention of Smuggling on International Airports & Sea.
- Prevention of Smuggling through Land Customs Station & Border Checkpoints.