Customs law governs the import and export of goods in India, ensuring compliance with regulations, tariffs, and duties. Businesses involved in international trade must follow these rules to avoid penalties, delays, or confiscation of goods.
Key Points:
- The Customs Act, 1962 is the primary law.
- Importers/exporters must file correct documentation.
- Valuation of goods affects duty payable.
- Exemptions and incentives are available under various schemes.
At Lawfic Tax Practice, we help clients navigate complex customs procedures, secure exemptions, and resolve disputes at ports and airports across India.