CBIC amends Notification No. 58/2021-Customs (N.T.), dated 01.07.2021 under sub-section (2) of Section 151B of the Customs Act, 1962 to notify Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs Matter of India and with other Countries
The Ministry of Finance, Department of Revenue, has introduced a significant amendment through Notification No. 23/2024-Customs (N.T.), dated 15th March, 2024, to the Customs Act, 1962. This amendment pertains to the inclusion of an Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs matters between India and the Republic of Armenia. This article delves into the details of this amendment and its implications.
Detailed Analysis
The amendment, made under sub-section (2) of section 151B of the Customs Act, 1962, expands the scope of cooperation between India and Armenia in customs-related matters. Specifically, it adds a new entry, S. No. 16A, to the existing notification, which outlines the agreement between the two nations on cooperation and mutual assistance in customs matters.
This inclusion signifies a commitment to enhancing collaboration and streamlining administrative processes related to customs between India and Armenia. It facilitates smoother trade operations, reduces bureaucratic hurdles, and strengthens bilateral relations in the realm of customs administration.
The notification underscores the ongoing efforts of the Indian government to foster closer ties with other nations and promote efficient trade practices. By formalizing agreements such as the one with Armenia, India aims to create a conducive environment for trade and investment, thereby contributing to economic growth and development.
Conclusion
The amendment introduced through Notification No. 23/2024-Customs (N.T.) marks a significant step towards strengthening cooperation between India and Armenia in customs matters. It reflects the commitment of the Ministry of Finance to modernize customs administration and facilitate trade facilitation initiatives. As both nations work towards deepening their bilateral ties, such agreements pave the way for smoother trade flows and greater economic integration. This amendment underscores the importance of international cooperation in addressing contemporary challenges and fostering mutual prosperity.
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MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 23/2024 – Customs (N.T.) | Dated: 15th March, 2024
G.S.R. 205(E).—In exercise of the powers conferred by sub-section (2) of section 151B of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue) Notification No. 58/2021-Customs (N.T.), dated the 1st July, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 467(E), dated the 1st July, 2021, namely:-
In the said notification, in the TABLE, after S. No. 16 and the entries relating thereto, the following S. No. and entries shall be inserted, namely: –
| S.No. | Name of contracting State | Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs matters |
| (1) | (2) | (3) |
| “16A | Republic of Armenia | Agreement between the Government of the Republic of India and the Government of the Republic of Armenia on co-operation and mutual assistance in Customs matters.”. |
[F. No. 15021/02/2019-ICD(CBEC]
MEGHA BANSAL, Under Secy.
Note:- The principal Notification No. 58/2021-Customs (N.T.), dated the 1st July, 2021 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 467(E), dated the 1st July, 2021 and was last amended by Notification No. 111/2022-Customs (N.T.), dated the 20 December, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide number G.S.R. 891(E) dated the 20th December, 2022.
