Indirect Taxation

Legislative changes (To be effective from the date of enactment of the Finance (No. 2) Bill 2024)

Amendments under Customs Act:

[Clause 100]

• Section 28 DA is being amended to accept different types of proof of origin to align with new trade agreements, allowing for self-certification.

[Clause 101]

• A proviso is being inserted to Section 65(1) to empower the Central Government to specify certain operations related to a class of goods that shall not be permitted in a warehouse.

[Clause 102,103]

• Section 143AA is being amended to facilitate trade by replacing the expression "a class of importers or exporters" with "a class of importers or exporters or any other persons". The same change is being made to Section 157(2)(m).