Self assessment

„Self-Assessment‟ in Customs has been implemented w.e.f. 8.4.2011 vide Finance Act, 2011 by suitable changes to Sections 17, 18, 46 and 50 of the Customs Act, 1962. Self-Assessment interalia requires importers / exporters to correctly declare value, classification, descripttion of goods, exemption notifications etc. and self assess the duty thereon, if any. As Self-Assessment is newly introduced, the Central Board of Excise and Customs is releasing this Manual to guide importers / exporters in making correct Self-Assessment of duty of imported or export goods.

read link:

https://www.cbec.gov.in/customs/cs-circulars/cs-circulars11/circ17-2k11-cus.htm

https://www.cbec.gov.in/deptt_offcr/cs-self-assesmt2011-manual.pdf