Reetu | Apr 4, 2022 |
CBIC Notifies New Changes as per Finance Act 2022
The Central Board of Indirect Taxes and Customs (CBIC) vide Circular No. 07/2022-Customs dated 31st March 2022 notifies Changes in the Customs Act, 1962 vide Sections 86, 87, 88 and 94 of the Finance Act, 2022 (enacted on 30.03.2022) and notifications related thereto with reference to the appointment of officers of customs and assignment of functions.
The Circular is Given Below:
Changes have been made in sub-section (34) of section 2 of the Customs Act, more classes of officers of customs have been specified in section 3, new sub-sections (1A), (1B), (4) and (5) inserted under Section 5, and a new section 110AA inserted relating to action subsequent to inquiry, investigation or audit which applies in specified situations. For reference purposes, extract from the Memorandum explaining the provisions in the Finance Bill, 2022, is reproduced below:
To Read Full Circular Download PDF Given Below:
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