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Provisional Assessment

Customs - CBEC s Customs Manual 2015 - 07 - Chapter 7 1. Introduction: 1.1 The Finance Act, 2011 introduced self-assessment under which importers and exporters are mandatorily required to self-assess the duty in terms of Section 17 of the Customs Act, 1962. This self-assessment is subject to verification by the proper officer of the Customs and may lead to reassessment by the proper officer of Customs if it is found to be incorrect. However, in terms of Section 17(1) of the Customs Act, 1962 in .....

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ke further enquiry, he may direct that the duty leviable on such goods be assessed provisionally. Customs (Provisional Duty Assessment) Regulations, 2011 have been notified to prescribe conditions for allowing , terms of bond, penal provisions etc. A penalty of upto ₹ 50,000 may be imposed on contravention of these Regulations. 2. Bond for : 2.1 For making the proper officer is required to estimate the duty to be levied i.e. the provisional duty. Thereafter, the importer or the exporter ha .....

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