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

Under section 151B of the Customs Act, 1962, where the Central Government has entered into a multilateral agreement for exchange of information or documents for verification of compliance in identified cases, who specifies the procedure, conditions and the designated person for the exchange?

The Board specifies them. Under section 151B(4), where a multilateral agreement exists for exchanging information or documents to verify compliance in identified cases, the Board lays down the procedure, the conditions and the person designated to exchange the information.

  1. AThe BoardCorrect
  2. BThe foreign contracting State
  3. CThe Central Government by an Act of Parliament
  4. DThe Directorate of Revenue Intelligence only

Explanation

Section 151B(4) provides that where a multilateral agreement exists for exchange of information or documents for verification of compliance in identified cases, the Board shall specify the procedure, the conditions and the designation of the person through whom the exchange is made. No other body is named.

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