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

Which of the following is NOT one of the stated purposes for which the Board may take trade facilitation measures under Section 143AA of the Customs Act, 1962?

Guaranteeing a minimum annual customs revenue from each class of importers is not a purpose under Section 143AA. The listed purposes are transparency, expediting clearance, reducing transaction cost, and balancing control with facilitation of legitimate trade.

  1. AMaintaining transparency in import and export documentation
  2. BReducing the transaction cost of clearance of imported or exported goods
  3. CMaintaining a balance between customs control and facilitation of legitimate trade
  4. DGuaranteeing a minimum annual customs revenue collection from each class of importersCorrect

Explanation

Section 143AA lists four purposes: transparency in documentation, expediting clearance or release, reducing transaction cost, and balancing customs control with facilitation of legitimate trade. Guaranteeing a minimum revenue from each class is not listed, so it is the correct choice here.

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