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of <h1>CBIC Issues Updated Guidelines for Provisional Duty Assessment; Refer to Circular 19/2021 and CAROTAR, 2020 Compliance</h1> For provisional assessment under customs law, a proper officer must estimate the provisional duty. Importers or exporters must execute a bond to cover any potential duty deficiencies and provide security, such as a bank guarantee or cash deposit. Comprehensive guidelines for provisional assessment have been issued by CBIC, initially detailed in Circular No. 38/2016 and revised following the implementation of CAROTAR, 2020. The latest guidelines are outlined in Circular 19/2021. These guidelines ensure compliance with the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020, and provide a framework for provisional duty assessments.
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