The Government is also encouraging ‘Make in India’ projects where again significant inputs, parts and components are sourced from various foreign sources.
At the same time, Indian customs authorities have always played a vigilant role in regulating cross-border trade and this has given rise to multitude of laws, regulations and notifications to satisfy for import and export goods to and from India. This proves overwhelming for organisations to navigate their course often leading to mistakes and litigation.
Customs Advisory at L&S
Lakshmikumaran & Sridharan (L&S) has a dedicated customs advisory and litigation practice. The attorneys have decades of experience in handling customs disputes for major organisations involved in global trade. The multidisciplinary team handling customs matters consists of qualified advocates, charted accountants, economists, ex-government officials, trade experts, and professionals trained in business management.
The team has extensively worked on custom laws including all subordinate rules, regulations and issues relating to classification, valuation, interpretation of exemption notifications, prohibitions and restriction on cross-border trade, Free Trade Agreements.
The team advises with tailor made solutions by ensuring that the support goes beyond taking care of merely the issue at hand. We envision multiple possible scenarios and accordingly our solutions are aimed at mitigating long term risks. We strive to work towards holistic solutions factoring in not only Customs laws but also allied laws including SCOMET, Foreign Trade Policy, Food laws, Drugs and Cosmetics Act, The Legal Metrology Act etc.
The team believes in supporting with end-to-end solutions to legal challenges faced in cross border business transactions with emphasis on ensuring legal compliance with customs and other allied laws. Special focus is also laid on gaining from tax planning opportunities and incentives given through various Government policies.
The Customs Advisory Practice (CAP) of Lakshmikumaran & Sridharan provides end-to-end solutions to legal challenges faced in cross border business transactions with emphasis on ensuring legal compliance with customs and other allied laws while also gaining from tax planning opportunities and incentives given through various Government policies.
The products and services of Custom Advisory Practice include:
Product classification under the Harmonised System of Nomenclature (HSN)
Customs valuation and assistance in investigation of related party transactions by the Special Valuation Branch (SVB)
Export restrictions on dual use and/or defence related items under SCOMET
Trade facilitation and Authorized Economic Operator programme
Health check and review of compliance under customs and other allied laws
Contract reviews for international / cross-border transactions
Foreign Trade Policy and Procedures
Regional / Free Trade Agreements and compliances under Rules of Origin
Special Economic Zones / Free Trade Warehousing Zones and their impact on procurement strategy and supply chain
Trade Remedies including anti-dumping and countervailing duties
Special restrictions and compliance with the food law, Drugs & Cosmetics Act, Packaged Commodities Rules, etc. in the context of cross-border transactions
The team follows a well thought and tested chronology in advising our clients:
- Support during departmental investigations by Directorate of Revenue Intelligence, the Special Intelligence and Investigative Branch, the Central Intelligence Unit of Customs etc.
- Drafting replies, representations, statutory appeals, before various judicial forums for Customs, Excise, Service Tax, Foreign Trade, etc Also engaged in drafting of writ petitions, civil appeals and special leave petitions before Various High Courts and the Supreme Court of India.
- Appearance before judicial and quasi-judicial forums, various High Courts and the Supreme Court of India.
L&S clients are market leaders in sectors like telecommunication, consumer products, defence and aero-space, oil and natural gas exploration, heavy machinery, automobiles, information technology, chemicals, agricultural commodities, precious metals, e-commerce trade and textiles.
Customs in-bond manufacturing – Old scheme with new prospects
27 November 2020
NEWSDRI officer not ‘the’ proper officer to issue show cause notice under Customs Section 28(4)
10 March 2021 Integrated tax and compensation cess leviable on imports/re-imports not covered under phrase ‘duty of customs’
09 November 2020 Rate of duty when notification issued on same date when bills of entry presented
28 September 2020