Introduction

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....nd Exporters Regulation, 2011 has notified the Customs Audit Regulations, 2018. [Notification No. 45/2018-Customs (N.T.) dated 24.05.2018] 1.2 A new Chapter XII A with heading 'AUDIT' was introduced in Customs Act, 1962 after Section 99. A new Section 99A (under Chapter XII A) has been introduced to provide a statutory framework for the procedure for conducting post clearance audit. Section 99A....

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.... No. 13 of 2018), dated 29.3.2018] 1.3 A new clause (k) has been inserted in section 157 of the Customs Act [vide Finance Act, 2018 (Act No. 13 of 2018)] to enable the Board to frame regulations in accordance with the new section 99Aof the said Act. Clause (k) of section 157 reads as: (k) the manner of conducting audit; [Inserted by the Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018] ....

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....inance Bill, 2011 i.e. 08.04.2011. The said OSPCA regulation, empowered the proper officer for verification of correctness of assessment of duty on imported or export goods at the premise of importer or exporter and also prescribed the manner of conducting audit. 1.5 As per Customs Audit Regulations, 2018, "audit" includes examination or verification of declaration, record, entry, document, impor....