Provisional assessment requires a prescribed bond and security by bank guarantee or cash deposit to secure customs duty. Provisional assessment must follow the statutory procedure, requiring the importer to execute a prescribed bond to cover any duty deficiency and to furnish security-either a bank guarantee or a cash deposit-in amounts indicated by the Board's table; the earlier provisional duty regulations have been rescinded and the Board's circular and annexed forms must be applied uniformly to ensure transparency and predictability.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Provisional assessment requires a prescribed bond and security by bank guarantee or cash deposit to secure customs duty.
Provisional assessment must follow the statutory procedure, requiring the importer to execute a prescribed bond to cover any duty deficiency and to furnish security-either a bank guarantee or a cash deposit-in amounts indicated by the Board's table; the earlier provisional duty regulations have been rescinded and the Board's circular and annexed forms must be applied uniformly to ensure transparency and predictability.
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