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of <h1>Section 143AA Empowers Board to Streamline Trade Procedures, Enhance Transparency, and Expedite Goods Clearance under Customs Act 1962</h1> Section 143AA of the Customs Act, 1962 grants the Board the authority to implement measures or prescribe different procedures or documentation to facilitate trade. This power can be applied to specific classes of importers, exporters, other persons, categories of goods, or based on modes of transport. The objectives include maintaining transparency in import and export documentation, expediting the clearance or release of goods, reducing transaction costs, and balancing customs control with the facilitation of legitimate trade. This provision was inserted by the Finance Act, 2018, and further amended by the Finance (No. 2) Act, 2024.
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