Govt reconstitutes Advisory Board of COFEPOSA [Read Notification]

COFEPOSA - Advisory Board - Taxscan

The Government of India has reconstituted the Advisory Board of COFEPOSA for the period of one year and the Advisory board will be headed by then Chief Justice D.N. Patel as the chairperson.

The Department of Revenue under the Ministry of Finance issued a notification in the Official Gazette of India on March 17, 2020, in the name of the Deputy Secretary, Naresh Kumar empowered under Section 8 of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act ( COFEPOSA), 1974.

COFEPOSA or the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act is an Act of Parliament passed in 1974 which is trying to retain foreign currency and prevent smuggling.

The subject matter of the notification pertains to the reconstitution of the Advisory Board. The Board will be constituted by a Chairperson and 2 members. Chief Justice D.N. Patel will be appointed as a chairperson; Justice J.R. Midha and Justice C. Hari Shankar will be the member of the Advisory board. The advisory board was constituted for a period of one year.

The notification will be implemented from March 23, 2020.

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