Finance Minister, Arun Jaitley, while presenting the budget today proposed an amendment in the Customs Act, 1962 to facilitate smoothening of dispute resolution process and to reduce litigations.
His proposal includes provision for pre-notice consultation, definite timelines for adjudication and deemed closure of cases if these timelines do not adhere.
The Hon’ble minister aims at aligning certain provisions with the commitments under the Trade Facilitation Agreement.
The Hon’ble Minister, while presenting the budget quoted that, “I also propose to make certain changes to the Customs Act, 1962, to further improve ease of doing business in cross-border trade, and to align certain provisions with the commitments under the Trade Facilitation Agreement. To smoothen dispute resolution processes and to reduce litigation, certain amendments are being made, to provide for pre-notice consultation, definite timelines for adjudication and deemed closure of cases if those timelines are not adhered to.”
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