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of <h1>New Section 28BB Sets 2-Year Limit for Customs Inquiries, Extendable by 1 Year for Valid Reasons</h1> Section 28BB, introduced by the Finance Act, 2021, amends the Customs Act to establish a two-year time limit for completing inquiries or investigations leading to a notice under section 28. This period starts from the initiation of an audit, search, seizure, or summons. The Principal Commissioner or Commissioner of Customs may extend this period by one year for sufficient cause, with reasons documented in writing. The calculation of this period excludes any duration during which a court or tribunal has granted a stay or when information is sought from an overseas authority. This section does not apply to proceedings initiated before the Finance Bill, 2021's presidential assent.
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