59. Amendment of section 18.
In the Customs Act, in section 18,-
(i) in sub-section (1), in the opening portion, after the word and figures “section 46”, the words and figures “and section 50” shall be inserted;
(ii) after sub-section (1), the following sub-section shall be inserted, namely:-
“(1A) Where, pursuant to the provisional assessment under sub-section (1), if any document or information is required by the proper officer for final assessment, the importer or exporter, as the case may be, shall submit such document or information within such time, and the proper officer shall finalise the provisional assessment within such time and in such manner, as may be prescribed.’’;
(iii) in sub-section (3), for the figures and letters “28AB”, the figures and letters “28AA” shall be substituted and shall be deemed to have been substituted retrospectively with effect from the 8th day of April, 2011.
Notes on Clauses:
Clause 59 of the Bill seeks to amend section 18 of the Customs Act relating to provisional assessment of duty. It is proposed to widen the scope of provisional assessment to cover export consignments. It is further proposed to specify by regulations the time and manner of finalisation of provisional assessment. It is also proposed to substitute the reference to section "28AB" with section "28AA" retrospectively, with effect from the 8th day of April, 2011.
