Amendment of section 2

In force Act 13 of 2018 As on 08 Oct 2026

Act 13 of 2018 Ministry Finance Cited by 1 provision

Section 58 of the Finance Act, 2018 deals with amendment of section 2. Amendment of section 2 58. In the Customs Act, in section 2,— (i) | for clause (2), the following clause shall be substituted, namely:— '(2) "assessment" means determination of the dutiability of any goods and the amount of duty, tax, cess or any other sum so payable, if any, under this Act or under

Amendment of section 2
58. In the Customs Act, in section 2,—
(i) for clause (2), the following clause shall be substituted, namely:—
'(2) "assessment" means determination of the dutiability of any goods and the amount of duty, tax, cess or any other sum so payable, if any, under this Act or under the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act) or under any other law for the time being in force, with reference to—
(a) the tariff classification of such goods as determined in accordance with the provisions of the Customs Tariff Act;
(b) the value of such goods as determined in accordance with the provisions of this Act and the Customs Tariff Act;
(c) exemption or concession of duty, tax, cess or any other sum, consequent upon any notification issued therefor under this Act or under the Customs Tariff Act or under any other law for the time being in force;
(d) the quantity, weight, volume, measurement or other specifics where such duty, tax, cess or any other sum is leviable on the basis of the quantity, weight, volume, measurement or other specifics of such goods;
(e) the origin of such goods determined in accordance with the provisions of the Customs Tariff Act or the rules made thereunder, if the amount of duty, tax, cess or any other sum is affected by the origin of such goods;
(f) any other specific factor which affects the duty, tax, cess or any other sum payable on such goods,
and includes provisional assessment, self-assessment, re-assessment and any assessment in which the duty assessed is nil;';
(ii) in clause (6), for the words "Central Board of Excise and Customs", the words "Central Board of Indirect Taxes and Customs" shall be substituted;
(iii) in clause (28), for the words and figure "contiguous zone of India under section 5", the words and figure "Exclusive Economic Zone under section 7" shall be substituted;
(iv) after clause (30A), the following clause shall be inserted, namely:—
'(30AA) "notification" means notification published in the Official Gazette and the expression "notify" with its cognate meaning and grammatical variation shall be construed accordingly;'.
Section 58, The Finance Act, 2018 (Act 13 of 2018).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

Referred to by 1

s. First Schedule INCOME-TAX

Questions about Section 58

What does Section 58 of the Finance Act deal with?

Section 58 of the Finance Act is headed "Amendment of section 2". Amendment of section 2 58. In the Customs Act, in section 2,— (i) | for clause (2), the following clause shall be substituted, namely:— '(2) "assessment" means determination of the dutiability of any goods and the amount of duty, tax, cess or any other sum so payable, if any, under this Act or under

How do I find court cases under Section 58 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2018 58, section 58 Finance Act 2018, section 58 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 58 of the Finance Act, and has it changed?

Its own text turns on section 2 (Income-tax), section 5 (Amendment of section 10), section 7 (Amendment of section 16), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2018 as Act 13 of 2018. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. INCOME-TAX8472 words
2. Income-tax4233 words
206. Amendment of Act 54 of 20001580 words
Second Schedule. Second Schedule1062 words
33. Insertion of new section 112A756 words
63. Amendment of section 28707 words

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(i)		for clause (2), the following clause shall be substituted, namely:—
		'(2) "assessment" means determination of the dutiability of any goods and the amount of duty, tax, cess or any other sum so payable, if any, under this Act or under the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act) or under any other law for the time being in force, with reference to—

(a)		the tariff classification of such goods as determined in accordance with the provisions of the Customs Tariff Act;
(b)		the value of such goods as determined in accordance with the provisions of this Act and the Customs Tariff Act;
(c)		exemption or concession of duty, tax, cess or any other sum, consequent upon any notification issued therefor under this Act or under the Customs Tariff Act or under any other law for the time being in force;
(d)		the quantity, weight, volume, measurement or other specifics where such duty, tax, cess or any other sum is leviable on the basis of the quantity, weight, volume, measurement or other specifics of such goods;
(e)		the origin of such goods determined in accordance with the provisions of the Customs Tariff Act or the rules made thereunder, if the amount of duty, tax, cess or any other sum is affected by the origin of such goods;
(f)		any other specific factor which affects the duty, tax, cess or any other sum payable on such goods,

		and includes provisional assessment, self-assessment, re-assessment and any assessment in which the duty assessed is nil;';
(ii)		in clause (6), for the words "Central Board of Excise and Customs", the words "Central Board of Indirect Taxes and Customs" shall be substituted;
(iii)		in clause (28), for the words and figure "contiguous zone of India under section 5", the words and figure "Exclusive Economic Zone under section 7" shall be substituted;
(iv)		after clause (30A), the following clause shall be inserted, namely:—
		'(30AA) "notification" means notification published in the Official Gazette and the expression "notify" with its cognate meaning and grammatical variation shall be construed accordingly;'.