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of <h1>Finance Act 1998 Adds Chapter XIVA to Customs Act for Case Settlements; Establishes Settlement Commission for Duty Disputes</h1> The Finance (No. 2) Act, 1998, introduces Chapter XIVA into the Customs Act, focusing on the settlement of cases. It establishes the Settlement Commission, which includes a Chairman, Vice-Chairman, and Members, to handle cases involving customs duty assessment and collection. Applicants, such as importers and exporters, can apply for case settlement, provided they disclose their duty liabilities and meet specific criteria. The Commission has the authority to order provisional attachments, reopen completed proceedings, and grant immunity from prosecution. Orders from the Commission are conclusive, and certain conditions bar subsequent applications for settlement. Proceedings before the Commission are considered judicial.
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