Voluntary post-clearance revision allows importers and exporters to self-assess and correct duty liabilities with verification.

A new provision allows importers and exporters to make a voluntary post-clearance revision of an entry in the prescribed form, manner and time and requires them to self-assess duty; short-paid or unpaid duty may be paid voluntarily with interest, excess duty revisions operate as refund claims, and the proper officer may verify selected revisions and re-assess duty; revisions are barred where audits or search/seizure/summons have been initiated, where officials have re-assessed or assessed duty, or in other cases notified by the Board.

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