Continuity bond , Customs - Exim - SEZ

[Mukund Honkan]

In regard to import from associated concerns, on provisional assessment by SVB, we are depositing full custom duty with 1% RD. However, customs demand bond to the extent of assesseable value instead of differential duty .  Wehave a case with Supreme Court which we won in tribunal & customs went to Supreme Court where customs treat assesseable value as 120% of invoice value. Can some body guide us provisions for taking bonds.

Regards,

Mukund M Honkan

Posts / Replies

[Rama Krishana]

Do you wish to know the Rules for provisional assessment and requirement of furnishing bond? If yes, please follow this link:

http://www.taxmanagementindia.com/Site-Map/Customs/list_rule.asp?ID=52