{"act":{"id":"finance-act-2018","short_title":"The Finance Act, 2018","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2018-2019.","act_number":"13","act_year":2018,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":227,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2018/"},"unit":"section","section":{"number":"97","heading":"Insertion of new section 143AA","text":"Insertion of new section 143AA 97. In the Customs Act, after section 143, the following section shall be inserted, namely:— \"143AA. Power to simplify or provide different procedure, etc., to facilitate trade.—Notwithstanding anything contained in any other provision of this Act, the Board may, for the purposes of facilitation of trade, take such measures or prescribe separate procedure or documentation for a class of importers or exporters or for categories of goods or on the basis of the modes of transport of goods, in order to,— (a) | maintain transparency in the import and export documentation; or (b) | expedite clearance or release of goods entered for import or export; or (c) | reduce the transaction cost of clearance of importing or exporting goods; or (d) | maintain balance between customs control and facilitation of legitimate trade.\".","html":"<p><b>Insertion of new section 143AA</b></p><p><b>97</b>. In the Customs Act, after section 143, the following section shall be inserted, namely:—</p><p>\"143AA. <i>Power to simplify or provide different procedure, etc., to facilitate trade</i>.—Notwithstanding anything contained in any other provision of this Act, the Board may, for the purposes of facilitation of trade, take such measures or prescribe separate procedure or documentation for a class of importers or exporters or for categories of goods or on the basis of the modes of transport of goods, in order to,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>maintain transparency in the import and export documentation; or</td></tr><tr><td>(<i>b</i>)</td><td></td><td>expedite clearance or release of goods entered for import or export; or</td></tr><tr><td>(<i>c</i>)</td><td></td><td>reduce the transaction cost of clearance of importing or exporting goods; or</td></tr><tr><td>(<i>d</i>)</td><td></td><td>maintain balance between customs control and facilitation of legitimate trade.\".</td></tr></table></div>","words":137,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/97/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}