Provisional Assessment

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....n exports, delay in clearance may cause cancellation of export order, increase in interest liability and other financial losses to the exporters. To meet such exigencies, provisions have been made in section 18 of the Customs Act, 1962 to assess the duty provisionally and allow clearance of the goods by taking a bond with appropriate security. Conditions for allowing provisional assessment 2. The provisional assessment may be resorted to in following situations: (a) where the proper officer of Customs is satisfied that an importer or exporter is unable to produce any document or furnish any information necessary for the assessment of duty on the imported goods or the export goods, as the case may be; or (b) where the proper officer of....

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....of the excess duty. Terms of the Bond 4. (i) Where the provisional assessment is allowed pending the production of any document or furnishing of any information by the importer or exporter, as the case may be, the terms of bond generally are that required document/information shall be furnished within one month or within such extended period as the proper officer may allow, and that the person executing the bond shall pay the deficiency, if any, between the duty finally assessed and the duty provisionally assessed. (ii) Where the provisional assessment is allowed pending the completion of any test or enquiry, the terms of bond generally are that the person executing the bond shall pay the deficiency, if any, between the duty finally asse....