Question

Write a meaning of notified goods and specified goods under custom act

Answer 1

Answer:

Explanation:

notified goods: these are the good which can be used by any person and can be kept in any one's house. these are normally the day to day usable items but under the customs act, it is that the good helps in the prevention of illegal import of goods.

specified goods: an indirect tax, imposed under the Customs Act formulated in 1962. The power to enact the law is given under the Constitution of India under Article 265, which says that ―no tax shall be levied or collected except by authority of law.