Provisional assessment under Section 18 permits clearance on photocopy COOC with bond or undertaking and prescribed security. Provisional assessment permits clearance against photocopies of Country of Origin Certificates when originals cannot be produced due to COVID-19, contingent on submission of a Bond or Undertaking and provision of security differing by importer class. Certain classes (status holders, previously compliant importers, specified manufacturers and institutional users of essential goods) receive nil or reduced security; others face higher security. The Undertaking must be replaced by a proper Bond within the prescribed period and records of relaxations are to be maintained; importers may provide bank guarantees or revenue deposits as security.
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 under Section 18 permits clearance on photocopy COOC with bond or undertaking and prescribed security.
Provisional assessment permits clearance against photocopies of Country of Origin Certificates when originals cannot be produced due to COVID-19, contingent on submission of a Bond or Undertaking and provision of security differing by importer class. Certain classes (status holders, previously compliant importers, specified manufacturers and institutional users of essential goods) receive nil or reduced security; others face higher security. The Undertaking must be replaced by a proper Bond within the prescribed period and records of relaxations are to be maintained; importers may provide bank guarantees or revenue deposits as security.
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