Quick Summary
The Central Board of Indirect Taxes and Customs (CBIC) has issued the Customs (Finalisation of Provisional Assessment) Regulations, 2025, replacing the 2018 regulations. The notification, published on September 12, 2025, under Notification No. 55/2025-Customs (N.T.), lays down detailed timelines, procedures, and compliance requirements for finalising provisional customs duty assessments. Key Highlights of the 2025 Regulations 1. Applicability - The new rules apply to all provisional assessme
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FAQ :
These are new regulations issued by the CBIC that replace the 2018 rules, detailing timelines, procedures, and compliance requirements for finalising provisional customs duty assessments.
The new regulations apply to all provisional assessments pending as of September 12, 2025, and those made thereafter.
Importers/exporters must submit documents within two months of requisition (extendable by two more months). Customs officers must complete enquiries within 14 months and finalise assessments within three months after document receipt or enquiry completion, with overall limits and possible extensions.
Yes, importers/exporters may voluntarily pay duty during the pendency of a provisional assessment, and these payments will be adjusted upon finalisation.
Unpaid duties, penalties, or interest outstanding beyond 90 days will be recovered from securities provided during the provisional assessment or through other recovery methods.
The new framework is expected to provide greater certainty, improve efficiency, reduce litigation, and ensure a balance between revenue protection and trade facilitation by tightening timelines and streamlining procedures.
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