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CMA Final · Indirect Tax Laws and Practice · Trade Facilitation Measures

An agreement with a foreign country for exchange of customs information was made before the Finance Bill, 2018 received Presidential assent. How does Section 151B treat actions taken under it?

Such actions are deemed to have been done or taken under Section 151B. Sub-section (5) validates anything done under an agreement or arrangement made by the Central Government before the Finance Bill, 2018 received the President's assent.

  1. AThey are void as no statutory basis then existed
  2. BThey are deemed to have been done or taken under Section 151BCorrect
  3. CThey are valid only if re-ratified by the foreign country
  4. DThey are valid only for risk analysis, not investigations

Explanation

Section 151B(5) provides that anything done or action taken in pursuance of an agreement or arrangement made by the Central Government before the Finance Bill, 2018 received assent is deemed to have been done or taken under this section. Hence the void option is wrong.

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