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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Customs Regulations 2018: Process to Finalize Provisional Assessments Under Section 18 Explained</h1> The Customs (Finalisation of Provisional Assessment) Regulations, 2018, stipulate the process for finalizing provisional assessments under section 18 of the Act. If the provisional payment is less than the duty assessed, the shortfall is adjusted from any security obtained, with notification to the importer or exporter. The executed bond and security are canceled and returned if no dues remain. If the final assessment differs from the provisional, a speaking order is issued. If it confirms the provisional assessment, acceptance is sought from the involved party, and they are informed in writing. Electronic submissions are finalized through the Customs Automated system.
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