{"id":41142,"date":"2023-03-16T12:07:42","date_gmt":"2023-03-16T06:37:42","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=41142"},"modified":"2024-05-31T15:22:34","modified_gmt":"2024-05-31T09:52:34","slug":"audit-under-customs-act-of-1962","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/audit-under-customs-act-of-1962\/","title":{"rendered":"Audits under the Customs Act, of 1962"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-41144 size-full\" title=\"Audits under the Customs Act of 1962\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1.png\" alt=\"Audits under the Customs Act of 1962\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/03\/Audits-under-the-Customs-Act-of-1962-1-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Central Board of Indirect Taxes and Customs (CBIC)<\/span><span style=\"font-weight: 400;\"> has made the Customs Audit Regulations, 2018 which shall come into force on the date of their publication in the official gazette. <\/span><span style=\"font-weight: 400;\">The Customs Act, of 1962<\/span><span style=\"font-weight: 400;\">, is an important legislation that governs the levy of customs duties and regulation of imports and exports in India. The Act provides for the collection of revenue and prevention of smuggling through a system of customs audits. A Customs audit is an important mechanism that helps to ensure compliance with the provisions of the Customs Act, of 1962, and other related laws. In this article, we will discuss Audits under the Customs Act of 1962.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<p style=\"text-align: justify;\"><b>Table of Contents<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#look\"><span style=\"font-weight: 400;\">Quick Look<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#is\"><span style=\"font-weight: 400;\">What is Customs Audit under Customs Act, 1962?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#of\"><span style=\"font-weight: 400;\">The Objective of Customs Audit under the Customs Act, 1962<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#do\"><span style=\"font-weight: 400;\">Who can do a custom audit?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#are\"><span style=\"font-weight: 400;\">What are the different types of audits in customs?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#as\"><span style=\"font-weight: 400;\">Manner of conducting audit as given under<\/span> <span style=\"font-weight: 400;\">Customs Audit Regulations, 2018<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#be\"><span style=\"font-weight: 400;\">Some other important factors to be kept in mind regarding Audit under the Customs Act, of 1962<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"look\"><b>Quick Look<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Audit under Customs Audit Regulations, 2018 includes examination or verification of declaration, record, entry, <\/span><a href=\"https:\/\/www.cagmc.com\/import-export-code\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">import or export<\/span><\/a><span style=\"font-weight: 400;\"> license, authorisation, scrip, certificate, permission etc books of accounts, test or analysis reports and any other document relating to imported goods or export goods or dutiable goods and may include inspection of sample and goods.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Let us find out what is the meaning of Audit under Customs Act, 1962 in great detail.<\/span><\/p>\n<h2 id=\"is\"><b>What is Customs Audit under Customs Act, 1962?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Customs audit is the process of examining the accounts and records of a taxpayer to verify the correctness of the declarations made in the customs documents. The purpose of customs audit is to ensure that the revenue due to the government is collected correctly, and to prevent any revenue leakage due to under-declaration, mis-declaration, or other fraudulent practices. Customs audit is carried out by the Customs department and it can be conducted either before or after the clearance of goods.<\/span><\/p>\n<h2 id=\"of\"><b>The Objective of Customs Audit under Customs Act, 1962<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The primary objective of customs audit is to ensure that the importers and exporters are compliant with the customs laws and regulations. The audit is conducted to identify any discrepancies, errors, or omissions in the entity\u2019s customs declarations, classification of goods, valuation, and any other customs-related matters. Customs audit also helps in identifying areas where the entity can improve its compliance procedures.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The main objectives of customs audit are as follows:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To verify the accuracy of the declarations made in the customs documents.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To ensure that the revenue due to the government is collected correctly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To prevent any revenue leakage due to under declaration, misdeclaration, or other fraudulent practices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To detect any evasion of customs duty or any other illegal activities related to imports and exports.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To educate and assist the taxpayers in complying with the provisions of the Customs Act, 1962, and other related laws.<\/span><\/li>\n<\/ul>\n<h2 id=\"do\"><b>Who can do Custom Audit?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In accordance with the said regulation and amendment in Customs Act, 1962,\u00a0officers of customs and central excise\u00a0will conduct the audit at the premises of importer and exporter vide Notification Number 72\/2011-Customs (N.T.).<\/span><\/p>\n<h2 id=\"are\"><b>What are the different types of audits in the Customs Act, of 1962?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The following are the types of Audit:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Transaction based Audit:<\/b><span style=\"font-weight: 400;\"> Transaction-based controls are\u00a0those controls applied to each individual shipment at the time of crossing the border, such as physical examination, verification of value, origin and classification of goods, sampling, verification of certificates, licences and permits, etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Premises based Audit<\/b><span style=\"font-weight: 400;\">: Under this Audit process, the legal compliance and correct assessment of Customs duties will be verified by the Customs at the premises of importers, exporters and other related entities felt necessary in the completion of this process.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Theme based Audit<\/b><span style=\"font-weight: 400;\">: A theme based audit is an in-depth examination of a selected area, which may involve more than one public sector entity. Such in-depth examination enables AGO to report on good practices in financial governance and controls that it may come across in the course of the audit, in addition to lapses.<\/span><\/li>\n<\/ul>\n<h2 id=\"as\"><b>Manner of conducting audit as given under<\/b> <b>Customs Audit Regulations, 2018\u00a0<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Following guidelines are prescribed under the Customs Audit Regulations, 2018:\u00a0<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is that the proper office can conduct audit either in his office or in certain cases at the premises of an auditee.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">That the proper officer where considered necessary, request the auditee to furnish documents, information or record including electronic record, as may be relevant to audit.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The proper officer shall give not less than fifteen days advance notice to the auditee to conduct audit at the premises of the auditee.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The proper officer may, where considered necessary, inspect the imported goods or export goods or dutiable goods at the premises of the auditee or request the auditee to produce sample.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The proper officer shall inform the auditee of the objections, if any, before preparing the audit report to provide him an opportunity to offer clarifications with supporting documents.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Where the auditee is in agreement with the audit findings, he may make voluntary payments of duty, interest or other sums, due, if any, in part or in full and the proper officer shall record the same in the <\/span><span style=\"font-weight: 400;\">audit<\/span><span style=\"font-weight: 400;\"> report.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Where the proper office has asked the auditee to furnish information, document, record or sample for the purposes of audit, it shall be mandatory for the proper officer to inform outcome of such audit to the auditee.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The proper officer shall complete audit in cases where it is conducted at the premises of the auditee within thirty days from the date of starting of the audit.\u00a0<\/span><\/li>\n<\/ul>\n<h2 id=\"be\"><b>Some other important factors to be kept in mind regarding Audit under Customs Act, 1962<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The following are some important factors to be kept in mind regarding Audit under Customs Act, 1962:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Selection for Audit: <\/b>The selection of auditee or the selection of import declarations or export declarations, as the case may be, for the purposes of audit shall primarily be based on risk evaluation through appropriate selectivity criteria<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Assistance of Professionals: <\/b>If the proper officer, having regard to the nature and complexity of the audit, is of the opinion that the audit has to be done with the assistance of a professional like Chartered Accountant, Cost Accountant, an expert in the field of computer sciences or information technology etc., may do so, with the previous approval of the Principal Commissioner\/Commissioner of Customs.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Penalty: <\/b>Any auditee contravening with any provision of these regulations or abets such contravention or fails to comply with any provision of these regulations with which it was his duty to comply, shall be liable to a penalty which may extend to fifty thousand Indian rupees (15000).<\/li>\n<\/ul>\n<h2 id=\"conclusion\"><b>Conclusion<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The <a href=\"https:\/\/www.cbic.gov.in\/\" target=\"_blank\" rel=\"noopener\">Central Board of Indirect Taxes and Customs (CBIC)<\/a> has made the Customs Audit Regulations, 2018 which shall come into force on the date of their publication in the official gazette. Implementation of Customs Audit Regulations, 2018 All above steps have been introduced to ensure speedy approval of import and export consignments on self-assessment basis and audit will be conducted of such import and export consignment on a periodical basis at the premises of the importer and exporter.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Indirect Taxes and Customs (CBIC) has made the Customs Audit Regulations, 2018 which shall come into [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":41144,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Audits under the Customs Act of 1962 - Goyal Mangal &amp; 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