The Indian Cabinet on 21 July 2011 approved the amendment to Customs Act, 1962 to help the exchequer safeguard its revenues. The cabinet decided to put forth the amendment bill in the 2011 winter session of the parliament.
The amendment will permit specifically recognised customs officers to assess import duty. The recognition to customs officials would be from retrospective effect. The amendment bill will help the government to recover customs duty worth several thousands of crores, Soni added. Officers of the Directorate of Revenue Intelligence (DRI) will alone have issued notices involving customs duty to the tune of over Rs 7500 crore. Also tax evaders will not get benefited at the expense of exchequer on a mere technical ground.
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