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of <h1>Entities Must Provide Accurate Info to Customs Officers Under Section 108A of Customs Act, 1962; Rectification Required Within 7 Days.</h1> Section 108A of the Customs Act, 1962, mandates specified entities, including local authorities, tax authorities, banks, financial institutions, electricity boards, registrars, stock exchanges, depositories, postal services, trade directors, railway managers, and the Reserve Bank of India, to provide relevant information to customs officers. If the information is found defective, the officer may request rectification within seven days. Failure to rectify renders the information as not furnished. If information is not provided within the specified timeframe, a notice may be issued requiring submission within 30 days. This provision was introduced by the Taxation Laws (Amendment) Act, 2017.
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