(1) The advance ruling pronounced by the Authority under section 28-I shall be binding only -

(a) on the applicant who had sought it;

(b) in respect of any matter referred to in sub-section (2) of section 28H;

(c) on the [1][Principal Commissioner of Customs or Commissioner of Customs], and the customs authorities subordinate to him, in respect of the applicant.

(2) [2][The advance ruling referred to in sub-section (1) shall remain valid for [3][five years] or till there is a change in law or facts on the basis of which the advance ruling has been pronounced, whichever is earlier:

[4][Provided that in respect of any advance ruling in force on the date on which the Finance Bill,2026 receives the assent of the President, the Authority shall, upon a request by the applicant, extend the validity for five years from the date of the ruling].