State with brief reasons, whether the following statements are true or false in the light of the provisions contained in the Customs Act, 1962: A beneficial owner of imported goods is a person on whose behalf the goods a

The given statement is True . Subsequent to the insertion of new section 2(3A) in the Customs Act, 1962 vide the Finance Act, 2017, the beneficial owner has been defined to mean any person on whose behalf the goods are being imported or exported or who exercises effective control over the goods being imported or exported.