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of <h1>Central Government Can Form Agreements for Information Exchange Under Customs Act, 1962, Section 151B for Trade Facilitation</h1> The Customs Act, 1962, Section 151B allows the Central Government to establish agreements with foreign governments or competent authorities to facilitate trade and enforce the Act's provisions. These agreements enable the exchange of information for trade facilitation, risk analysis, compliance verification, and investigation of offenses under the Act or corresponding foreign laws. The government may issue notifications to apply these provisions to contracting states with specified conditions. Information received can be used as evidence in investigations. Multilateral agreements can also be established for information exchange. Actions taken under previous agreements before the Finance Bill, 2018 are deemed valid under this section.
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