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of <h1>Customs Act, 1962: Section 17 mandates self-assessment of duties; officers may re-assess and issue orders if discrepancies arise.</h1> Section 17 of the Customs Act, 1962, outlines the assessment of customs duties for imported and exported goods. Importers and exporters are required to self-assess duties under sections 46 and 50, respectively. Proper officers may verify these assessments, selecting cases based on risk evaluation. They can request additional documents or information to ascertain duties. If self-assessment is incorrect, officers can re-assess duties and must issue a speaking order within fifteen days if the re-assessment contradicts the initial self-assessment. The section also clarifies that goods entered before the Finance Bill, 2011, will follow the previous provisions.
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