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Amending Circular 38/2016-Cus on Guidelines for Provisional Assessment under Section 18 of the Customs Act 1962 - Customs - 42/2020

Extract

..... to Board’s Circular no. 38/2016-Customs, dated 22.08.2016 which provides guidelines regarding provisional assessment under section 18 of the Customs Act 1962 and Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (hereafter referred to as the CAROTAR, 2020) issued vide Notification No. 81/2020-Customs (N.T.) dated 21st August, 2020. 2. In order to align the Circular no. 38/2016-Customs dated 22.08.2016 with CAROTAR, 2020, the entries at Sl No. 1, 2, 5(a) and 5(c .....

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Amending Circular 38/2016-Cus on Guidelines for Provisional Assessment under Section 18 of the Customs Act 1962 - Customs

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..... 020 (notification no. 81/2020 dated 21.08.2020) 3. With the above amendments, all class of importers, including Authorised Economic Operators (AEO) are required to furnish 100% of differential duty as a security if provisional assessment is requested by the importer when inquiry is initiated in terms of Rule 5 or when verification is initiated in terms of rule 6(1)(a) or 6(1)(b) of CAROTAR, 2020. 4. It is requested that the officers under your charge be directed to follow revised guidelines vide .....

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Amending Circular 38/2016-Cus on Guidelines for Provisional Assessment under Section 18 of the Customs Act 1962 - Customs

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