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of <h1>New Customs Act Section 151B: Govt Can Forge Trade Agreements for Info Exchange & Enforcement</h1> Section 151B of the Customs Act, introduced by the Finance Act, 2018, allows the Central Government to establish agreements with foreign governments or authorities to facilitate trade and enforce customs laws. These agreements enable the exchange of information for trade facilitation, risk analysis, compliance verification, and investigation of offenses. The government can apply these provisions to specific countries through notifications, outlining conditions and exceptions. Information exchanged can be used as evidence in proceedings, and procedures for multilateral agreements are specified by the Board. Actions taken under prior agreements are validated under this section. Definitions for 'contracting State' and 'corresponding law' are provided.
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