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of <h1>Finance Bill 2021 amends Customs Act Section 25; limits exemptions to two years unless stated otherwise.</h1> Clause 82 of the Finance Bill, 2021 proposes an amendment to section 25 of the Customs Act by adding sub-section (4A). This new sub-section specifies that any exemption granted under sub-section (1), subject to conditions, will be valid until March 31st, immediately after two years from the grant or variation date, unless specified otherwise. Additionally, for exemptions in force when the Finance Bill, 2021 receives presidential assent, the two-year period will be calculated from February 1, 2021.
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