Amendment of Bill of Entry for Assessable Value

[BRIJMOHAN GOYAL]

Dear Sir,

Please guide us on below issue:-

If Bill of Entry has wrong file ( More Value due to Euro in place of USD) with higher assessable value and goods also cleared , have any chances for amendment of Bill of Entry to original Invoice value by Customs.?

We had import Carbon Steel Plates for Home consumption and our PO was in USD , due to oversight , the currency indicated in B/E is EURO hence Bill of Entry was assessed with exchange rate ₹ 72/- (INR/EURO) in place of ₹ 53/- (INR/USD) which was higher by 35%(approx.) and duty paid accordingly.

Now, it was noticed that B/E was assesses on higher value so we want expert advise on :

(1) Possibility for amendment of B/E

(2) Is there any time limit to re-call and amend B/E

(3) Documents required for filing the request for B/E amendment.

Regards,

BM Goyal

AI Summary

Amendment of Bill of Entry: reassessment may be allowed under customs law where invoice documents prove the correct value.
Section 149 of the Customs Act permits reassessment and amendment of a Bill of Entry even after goods have been cleared when contemporaneous documentary evidence (commercial invoice, purchase order, foreign exchange remittance) establishes the correct transaction value; Section 154 does not apply to self assessed clearances, the statute contains no explicit time limit for such amendments, and claimants may also file a refund claim if excess duty was paid.