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of <h1>New Customs (Provisional Assessment) Regulations 2025 amend Section 18: provisional assessments finalised within two years, timelines and safeguards</h1> The circular implements amended Section 18 by notifying Customs (Provisional Assessment) Regulations, 2025: provisional assessments must be finalized within two years (extendable by Principal Commissioner/Commissioner for sufficient cause), with pending cases counted from 29 March 2025; a 14-month limit applies to submission of documents/test reports and completion of enquiries (officers to finalize within three months thereafter where possible); proper officers must issue speaking orders and follow natural justice; importers/exporters may pay provisional duty with interest; bonds/security to be released or re-credited on finalisation; unpaid dues over 90 days may be recovered from security; rules apply to project imports and single unified multi-purpose bonds, with monitoring of cases beyond 17 months.
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