Draft Customs (Finalisation of Provisional Assessment) Regulations, 2018

Jun 07, 2018 | by Avantis RegTech Legal Research Team


The Central Board of Indirect Taxes and Customs (CBIC), on June 01, 2018, had published the Draft Customs (Finalisation of Provisional Assessment) Regulations, 2018.

The provisions of the Regulations are proposed to apply to the provisional assessments ordered on or after the coming into force of these regulations. These regulations shall not apply or shall apply in such amended form, to the provisional assessments, where directions have been issued by the CBIC to keep them pending.

Under the Draft Regulations, if any importer or exporter contravenes any provision of these regulations or abets such contravention, or fails to comply with any provision of these regulations with which it was his duty to comply, he shall be liable to a penalty which may extend to fifty thousand rupees.

The comments and suggestions are invited for Draft Customs (Finalisation of Provisional Assessment) Regulations, 2018 on [email protected] up to June 15, 2018.

URL: http://www.cbic.gov.in/resources//htdocs-cbec/draft-circ/Provisional_assessment_regulation_1.6.2018.pdf

 

http://www.cbic.gov.in/htdocs-cbec/home_links/tickers


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