Taxmann's Customs & FTP Ready Reckoner book by V.S. Datey

This book is a comprehensive guide that simplifies the intricate realms of Indian Customs laws and the Foreign Trade Policy (FTP). This reference work presents the most current and practical insights on Customs procedures, duties, valuations, exemptions, adjudication, appeals, and the entire scope of Foreign Trade Policy 2023. The book addresses practical challenges in dealing with import-export compliance, Customs clearance, duty drawbacks, SEZ regulations, and international trade facilitation.

This book is intended for the following audience:

• Tax Professionals (Chartered Accountants, Cost Accountants, Company Secretaries, Lawyers) specialising in indirect taxes and trade compliance
• Importers, Exporters, Customs House Agents/Brokers, and Logistics Managers seeking detailed procedural guidance
• Corporates, MSMEs, MNCs, and Start-ups involved in cross-border trade looking for comprehensive legal and procedural insights
• Academicians, Researchers, and Students of taxation, commerce, and business law
• Government Officials and Policy Makers overseeing international trade compliance and policy enforcement

The Present Publication is the 2025 Edition and has been updated till 1^st February 2025. It is authored by Mr V.S. Datey, with the following noteworthy features:

• [Step-by-Step Guidance] Clear explanations of import and export processes, assessment, warehouse procedures, exemptions, remission, appeals, etc.
• [Focus on Practical Application] Presents real-world examples, procedural checklists, and typical scenarios for easy comprehension of complex provisions
• [Easy Reference Tools] Features a section-wise index, subject index, and an extensive glossary of commonly used acronyms in Customs and FTP
• [In-depth Case Law Discussions] All important and relevant case law is discussed at appropriate places, offering judicial interpretations and real precedents to guide readers in everyday practice
• [Comprehensive FTP 2023 Coverage] Thorough discussion of the Foreign Trade Policy 2023, including e-commerce provisions, district export hubs, and new trade facilitation measures
• [Holistic Treatment of Customs & Trade] Dedicated chapters on penalties, confiscation, criminal offences, duty drawbacks, SEZ regulations, and IFSC provide an all-encompassing view

The coverage of the book is as follows:

• Customs Basics & Framework
  • Introduction to Customs Duty, Types of Customs Duties, Goods Classification, Principles of Classification, Valuation (Chapters 1–7)
• Operational Procedures & Compliance
  • Assessment in Customs, Import/Export Procedures, Baggage, Courier/Post Clearance, Exemptions, Remission, Departmental Adjudication (Chapters 8–19)
• Enforcement & Dispute Resolution
  • Demands of Customs Duty, Interest & Recovery, Refunds, Penalties, Confiscation, Criminal Offences, Appeals & Settlement (Chapters 20–41)
• Foreign Trade Policy (FTP 2023)
  • General Provisions, Import/Export Policies, District as Export Hub, Advance Authorisation, EPCG, EOU/EHTP/STP/BTP, Deemed Exports, Duty Drawback, SCOMET, SEZ (Chapters 42–59)
• Additional Areas
  • FT(D&R) Act and Rules, International Financial Services Centre (IFSC), concluding with an extensive Subject Index (Chapters 60–61)
• At every relevant stage, landmark judgments and important case laws are integrated, ensuring that readers gain a clear understanding of how various courts and tribunals interpret and enforce these laws

The structure of the book is as follows:

• Logical Topic Flow – Starts with foundational concepts and moves progressively into complex matters like classification disputes, valuation methods, and advanced compliance frameworks
• Detailed Subtopics – Each chapter contains specific subheadings, enabling quick navigation to relevant procedures or legal provisions
• Integrated Case Law – Judicial precedents are weaved into the text wherever they illuminate critical points, helping readers grasp the practical impact of legal rulings
• Practice-focused Approach – Includes procedural tips, flowcharts, and checklists to facilitate day-to-day compliance for importers, exporters, and consultants
• Reference Aids – The Glossary and Index enable quick look-up of terms, sections, and critical topics