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of <h1>Importers Must Self-Assess Duties per Section 17 of Customs Act 1962; Provisional Assessment Rules Explained</h1> The Finance Act, 2011 mandates importers and exporters to self-assess duties under Section 17 of the Customs Act, 1962, subject to verification by customs officers. If self-assessment is not possible, a written request for assessment can be made. Section 18 allows provisional assessment if verification is incomplete or further tests are needed. The Customs (Provisional Duty Assessment) Regulations, 2011 outline conditions, bond terms, and penalties for violations. A bond covers the duty difference, and up to 20% of provisional duty may be deposited. Final assessments should be completed within six months, though complex cases may require more time.
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