With the aim of further improving Ease of Doing Business in cross border trade, and to align certain provisions with the commitments under the Trade Facilitation Agreement, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley announced certain changes to the Customs Act, 1962 while presenting the General Budget 2018-19 in Parliament today.
Jaitley added that to smoothen dispute resolution processes and to reduce litigation, these 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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