Section 61 of Finance Act 2018 : Amendment of section 18 Customs Act

By | April 1, 2018
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(Last Updated On: April 18, 2018)

Section 61 of Finance Act 2018

[Section 61 of Finance Act 2018 deals with Amendment of section 18 and is covered in CHAPTER IV INDIRECT TAXES]

Amendment of section 18

61. In the Customs Act, in section 18,—

(i)in sub-section (1), in the opening portion, after the word and figures “section 46”, the words and figures “and section 50” shall be inserted;
(ii)after sub-section (1), the following sub-section shall be inserted, namely:—
“(1A) Where, pursuant to the provisional assessment under sub-section (1), if any document or information is required by the proper officer for final assessment, the importer or exporter, as the case may be, shall submit such document or information within such time, and the proper officer shall finalise the provisional assessment within such time and in such manner, as may be prescribed.”;
(iii)in sub-section (3), for the figures and letters “28AB”, the figures and letters “28AA” shall be substituted and shall be deemed to have been substituted retrospectively with effect from the 8th day of April, 2011.

Finance Act 2018 : Assented by President : Download Print Notification


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