Investigations and Audit under Customs Law
We are pleased to inform you that Institute of Business Laws (IBL) along with Knowledge Partner Lakshmikumaran & Sridharan (LKS), is organising a Seminar on Investigations and Audit under Customs law, in Mumbai to guide manufacturers, service providers, exporters, importers, entrepreneurs and others from trade and commerce.
Date & Time
18
Jul 2023 | 9:00 AM - 2:00 PM
Venue
The Orchid Mumbai Chambers Hall 70/C, Nehru Road, Adjacent to Domestic Airport Vile Parle (E), Mumbai - 400099
Various investigation agencies, such as the Directorate of Revenue Intelligence (DRI), Directorate General of GST Intelligence (DGGI), CIU, SIIB, regularly carry out investigations on customs transactions. These investigations often question aspects like classification, exemption, valuation, and importability. Typically, an investigation involves surveys, audits, searches, seizure of documents and goods, and summoning of officials, including CEOs, Chairpersons, and Directors, for statement recording. The investigating agencies may demand ad hoc payments for the disputed tax liability, compelling companies to comply. Show Cause Notices are also issued, proposing penalties not only for the corporations but also for individual officials responsible for alleged taxation irregularities. As responsible corporate citizens, it is important for companies to cooperate and provide all necessary information to the investigating agencies. Simultaneously, understanding the duties, responsibilities, and rights of company officials before, during, and after an investigation becomes essential.
The seminar will address the following issues amongst others:
- What is the scope of the investigation and what are the powers of the investigating agencies during and after investigation?
- What are the duties, responsibilities and the rights of the officials while co-operating with during investigation?
- How to continue the business operation when the documents, goods, stock, computer, files, etc. are seized?
- What is the protocol to be followed while giving statements to the officers in response to the summons?
- What are the powers of Departmental authorities to arrest officials during the course of investigation?
- Issuance of the Show Cause Notice, adjudication
- Appellate remedy available with the assessee
Further, it may be noted that pursuant to the faceless assessment /self-assessment regime, it has become smooth operation for clearance of the goods for import/ export. However, this brings more responsibility on the assessee in terms of the exemption/ benefits claimed warranting the review/ examination by the department subsequently. The session thus will also highlight overview on power of customs department to conduct Audit. This in turn would help in better understanding of Customs and make compliances much easier.
Speakers:
The panel of experts will be led by:
- T. Viswanathan, Principal Partner & Head of Customs, LKS
