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of <h1>Finance Bill 2022: Customs Act Overhaul Redefines Officers, Tackles Undervaluation, Refines Advance Rulings, Criminalizes Data Breaches.</h1> The Finance Bill, 2022 introduces several amendments to the Customs Act, 1962. Key changes include redefining the role of 'proper officer' and expanding the class of officers to include those from DRI, Audit, and Preventive formations. New provisions under Section 5 allow for specific assignment of functions and concurrent powers among officers. Amendments to Section 14 address undervaluation issues in imports. Changes to Sections 28E, 28H, 28I, and 28J refine procedures for advance rulings, including fee adjustments and validity periods. Section 110AA ensures jurisdictional authority in subsequent inquiries, and Section 135AA criminalizes unauthorized publication of import/export data.
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