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CUSTOMS (PROVISIONAL DUTY ASSESSMENT) REGULATIONS, 1963
Notification No. 181 dated 13thJuly 1963 (NT)
In exercise of the powers conferred by
section 157 of the Customs Act, 1962 (52 of 1962), read with section 18 of the
said Act, the Central Board of Revenue makes the following regulations, namely:
These regulations may be called the
Customs (Provisional Duty Assessment) Regulations, 1963.
2. Conditions
for allowing provisional assessment:
Where the proper officer on account of
any of the grounds specified in sub-section (1) of section 18 of the Customs
Act, 1962 (52 of 1962), is not able to make a final assessment of the duty on
the imported goods or the export goods, as the case may be, he shall make an
estimate of the duty that is most likely to be levied hereinafter referred to as
the provisional duty. If the importer or the exporter, as the case may be,
executes a bond in an amount equal to the difference between the duty that may
be finally assessed and the provisional duty and deposits with the proper
officer such sum not exceeding twenty per cent of the provisional duty, as the
proper officer may direct, the proper officer may assess the duty on the goods
provisionally at an amount equal to the provisional duty.
(a) Where provisional assessment
is allowed pending the production of any document or furnishing of any
information by the importer or the exporter, as the case may be, the terms of
the bond shall be that such document shall be produced or such information shall
be furnished within one month or within such extended period as the proper
officer may allow, and the person executing the bond shall pay the deficiency,
if any, between the duty finally assessed and the duty provisionally assessed.
(b) Where provisional assessment
is allowed pending the completion of any test or enquiry, the terms of the bond
shall be that the person executing the bond shall pay the deficiency, if any,
between the duty finally assessed and the duty provisionally assessed.
4. Surety
or security of the bond:
The proper officer may require that the
bond to be executed under these regulations may be with such surety or security,
or both, as he deems fit.
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