web analytics

Imp o rt :

The term “import”, with its grammatical variations and cognate expressions, means bringing into India from a place outside India [Section 2(23)].

 

Imp o rt e d g o ods :

It means any goods brought into India from a place outside India but does not include goods which have been cleared for home consumption [Section 2(25)].

 

Imp o r t er :

In relation to any goods at any time between their importation and the time when they are cleared for home consumption, includes any owner or any person holding himself out to be the importer [Section 2(26)].

 

Goo d s :

Goods includes-

(a) vessels, aircrafts and vehicles;

(b) stores;

(c) baggage;

(d) currency and negotiable instruments;

(e) any other kind of movable property [Section 2(22)].

 

For anything to be called as goods, it must be moveable and marketable.

 

Exp o r t :

The term “export”, with its grammatical variations and cognate expressions, means taking out of India to a place outside India [Section 2(18)].

 

Exp o r t goo d s :

It means any goods, which are to be taken out of India to a place outside India [Section 2(19)].

 

E x p o r t e r :

in relation to any goods at any time between their entry for export and the time when they are exported, includes any owner or any person holding himself out to be the exporter [Section 2(20)].

  1. Indirect Tax
  2. Customs
Ask Download

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
Jail