¹[SECTION 143AA. Power to simplify or provide different procedure, etc., to facilitate trade.- 143AA.

Notwithstanding anything contained in any other provision of this Act, the Board may, for the purposes of facilitation of trade, take such measures or prescribe separate procedure or documentation for a class of importers or exporters ^2. [or any other persons] or for categories of goods or on the basis of the modes of transport of goods, in order to,—

(a) maintain transparency in the import and export documentation; or

(b) expedite clearance or release of goods entered for import or export; or

(c) reduce the transaction cost of clearance of importing or exporting goods; or

(d) maintain balance between customs control and facilitation of legitimate trade.]

Note :

1. Inserted by section 97 (w.e.f. 29-3-2018) of Finance Act, 2018 (13 of 2018)

2. Inserted by THE FINANCE (No. 2) BILL, 2024 dated 07.08.2024