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

India has signed a multilateral agreement for exchange of information or documents to verify compliance in identified cases. Under Section 151B, who specifies the procedure, conditions and designation of the person through whom the exchange is made?

The Board specifies them. Under Section 151B(4), when the Central Government has entered a multilateral agreement for exchange of information for verifying compliance in identified cases, the Board lays down the procedure, the conditions and the person designated for the exchange.

  1. AThe BoardCorrect
  2. BThe contracting State's customs authority
  3. CThe Central Government by notification under sub-section (2) only
  4. DThe Settlement Commission

Explanation

Section 151B(4) says that where the Central Government has entered into a multilateral agreement for exchange of information or documents for verifying compliance in identified cases, the Board shall specify the procedure, conditions and the designated person. Sub-section (2) notification concerns reciprocal arrangements with contracting States, which makes the third option wrong.

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