TaxTMI 
TaxTMI 
Seeks to notify Customs (Provisional Duty Assessment) Regulations, 2011
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....entral Board of Excise and Customs) Notification No. 81/2011 - Customs (N.T.) New Delhi, dated the 25th November, 2011 G.S.R. (E)-----In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), read with section 18 of the said Act, and in supersession of the Customs (Provisional Duty Assessment) Regulations, 1963, except as respects things done or omitted to be don....
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....ke re-assessment of the duty on the imported goods or the export goods, as the case may be, he shall make an estimate of the duty to be levied (hereinafter referred to as the provisional duty). (2) If the importer or the exporter, as the case may be, executes a bond in an amount equal to the difference between the duty that may be finally assessed or re-assessed and the provisional duty and depos....
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....y finally assessed or reassessed, as the case may be, and the duty provisionally assessed. (3) Where provisional assessment is allowed pending the production of any document or furnishing of any information by the importer or the exporter, as the case may be, the bond referred to in regulation shall contain an undertaking that he shall produce such document or information within one month or with....