The recent amendments to India’s Customs Act, 1962, aim to facilitate trade but have a double-edged impact. On one hand, the amendments introduce provisions like Section 18A, allowing importers to revise bill of entry entries voluntarily, and Section 18(1B), which prescribes a two-year limit for finalizing provisional assessments. On the other hand, a new explanation to Section 27 may restrict refund claims, potentially contradicting the “ease of doing business” spirit. According to the authors, the new explanation may lead to absurdity and manifest arbitrariness, requiring government intervention to resolve the conundrum.
The article is authored by Shareen Gupta (Partner), and Rajan Mishra (Principal Associate), published in Bar and Bench.
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Shareen specializes in indirect tax laws including Goods and Services Tax, Customs Law and Foreign Trade Policy and erstwhile indirect tax laws such as Value Added Tax Laws, Service Tax, Excise duty. Shareen has 19 years of experience in providing advisory and litigation support services to large corporates as well as start-ups.