What is Chapter 99B? | Custom Act 1962 | Mr. Samir J Shah
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InstructorMr. Samir J Shah
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Duration4 Mins 40 Sec
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LanguagesEnglish
A few more words about this Video
In this video Mr. Samir J Shah, the Chief Mentor and Director of JBS Academy Private Limited, has briefly explained the crux of Section 99B, Chapter XII of the Customs Act 1962.
It is the statute governing Entry and Exit of Vessels, Artifacts, Goods, Passengers etc. across categories. This Act aims at conserving FOREX, protecting the Indian industry from undue competition and achieving the Import/Export objectives of the Government of India. It is a tax law, not only controlling the Levy and collection of Duties, but also regulates Imports and Exports, prevents smuggling and aims at augmentation of Foreign Exchange. This Act came into force on 1st day of January, 1963 and is spread across 15 chapters.