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CMA Final · Indirect Tax Laws and Practice · Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017

Under Section 47(2) of the Customs Act, 1962, in a case of self-assessment, the importer must pay the import duty:

In self-assessment, import duty is payable on the date of presentation of the bill of entry. The one-day period excluding holidays applies only when the bill of entry is returned for payment after assessment, reassessment or provisional assessment.

  1. AWithin one day, excluding holidays, of the bill of entry being returned
  2. BOn the date of presentation of the bill of entryCorrect
  3. CWithin ten days of the arrival of the goods
  4. DOn the date of the order permitting clearance

Explanation

Section 47(2)(a) requires payment on the date of presentation of the bill of entry for self-assessment. The one-day (excluding holidays) period in clause (b) applies where the bill of entry is returned for payment after assessment, reassessment or provisional assessment.

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