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Insertion of new section 151B-Reciprocal arrangement for exchange of information facilitating trade.

amely:- Reciprocal arrangement for exchange of information facilitating trade. 151B. (1) The Central Government may enter into an agreement or any other arrangement with the Government of any country outside India or with such competent authorities of that country, as it deems fit, for facilitation of trade, enforcing the provisions of this Act and exchange of information for trade facilitation, e .....

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verification of compliance in identified cases, the Board shall specify the procedure for such exchange, the conditions subject to which such exchange shall be made and designation of the person through whom such information shall be exchanged. (5) Notwithstanding anything contained in sub-section (1) or sub-section (2) or sub-section (3), anything done or any action taken or purported to have be .....

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96 of the Bill seeks to introduce a new section 151B in the Customs Act relating to reciprocal arrangement for exchange of information so as to,- (a) authorise the Central Government to enter into an agreement or any other arrangement with the Government of any country outside India or with competent authorities of that country for trade facilitation, effective risk analysis, prevention, combatin .....

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such information shall be exchanged; (e) insert a deeming provision that any agreement entered into or any other arrangement made by the Central Government prior to the date on which the Finance Bill, 2018 receives the assent of the President, shall be deemed to have been done or taken under the provisions of this section; and (f) to insert definitions of "contracting State" and "c .....

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