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of <h1>New Customs Act Sections: Authorities Must Provide Info or Face Penalties Under Sections 108A & 108B</h1> Sections 108A and 108B are newly inserted into the Customs Act under the Taxation Laws (Amendment) Act, 2017. Section 108A mandates various authorities, including local and state bodies, financial institutions, and registrars, to furnish relevant information to a proper officer. If the information is defective, the officer can request rectification within seven days. Failure to provide or rectify information within specified timeframes results in the information being deemed unfurnished. Section 108B imposes a penalty of one hundred rupees per day for continued failure to furnish the required information after a notice is served.
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