https://www.taxtmi.com/circulars?id=63000 Self-assessment places the duty to declare classification, value, applicable rates and exemptions on the importer or exporter when presenting electronic Bills of Entry or Shipping Bills, while Customs retains selective verification, examination and re-assessment powers via the Risk Management System. Where verification cannot be completed before clearance, the proper officer may permit provisional assessment against security, which later converts into final assessment or re-assessment. Electronic filing is mandated where feasible, with limited manual filing permitted in genuine cases and on-site Post Clearance Audit envisaged. en-us Fri, 17 Jun 2011 00:00:00 +0530 Sat, 02 Nov 2019 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63000 Self-assessment places the duty to declare classification, value, applicable rates and exemptions on the importer or exporter when presenting electronic Bills of Entry or Shipping Bills, while Customs retains selective verification, examination and re-assessment powers via the Risk Management System. Where verification cannot be completed before clearance, the proper officer may permit provisional assessment against security, which later converts into final assessment or re-assessment. Electronic filing is mandated where feasible, with limited manual filing permitted in genuine cases and on-site Post Clearance Audit envisaged. Circulars Customs Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63000