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

Under section 151B of the Customs Act, 1962, what does the term 'corresponding law' mean?

Corresponding law means any law in force in the contracting State that corresponds to any provision of the Customs Act or deals with offences in that country corresponding to offences under the Act, as defined in the Explanation to section 151B.

  1. AAny law in force in the contracting State corresponding to any provision of the Act or dealing with offences there corresponding to offences under the ActCorrect
  2. BAny Indian law on foreign trade, including the Foreign Trade (Development and Regulation) Act
  3. CAny international treaty signed by India on customs matters
  4. DAny law of the contracting State on income tax of importers

Explanation

The Explanation to section 151B defines corresponding law as a law in force in the contracting State corresponding to any provision of the Act or dealing with offences in that country corresponding to offences under the Act. Indian laws, treaties and foreign income tax laws are not what the definition covers.

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