https://www.taxtmi.com/acts?id=40970 Failure by an importer to comply with the conditions for concessional import or to make the required payment authorises the jurisdictional customs officer to invoke the bond and initiate recovery. In exemption cases, recovery covers the duty difference and interest from the date of import until full payment; where the notification does not grant exemption, recovery equals the assessable value of the imported goods. The importer must ensure use of the goods only for the notified purpose, including job-work situations. en-us Mon, 12 Sep 2022 14:41:38 +0530 Tue, 30 Jun 2026 14:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40970 Failure by an importer to comply with the conditions for concessional import or to make the required payment authorises the jurisdictional customs officer to invoke the bond and initiate recovery. In exemption cases, recovery covers the duty difference and interest from the date of import until full payment; where the notification does not grant exemption, recovery equals the assessable value of the imported goods. The importer must ensure use of the goods only for the notified purpose, including job-work situations. Act-Rules Customs Mon, 12 Sep 2022 14:41:38 +0530 https://www.taxtmi.com/acts?id=40970