Time-limit for finalising provisional assessments

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Excise and have made recommendations, inter-alia, making specific provisions prescribing time- limit for finalisation of provisional assessment cases. They have also expressed concern that in many cases in the past, the provisional assessments were made without taking requisite bonds with securities or in many cases the bonds were not. enforced or in yet other cases, the bank guarantees were not .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... granted by the Chief Commissioner for a period as he may find reasonable. (4) The Chief Commissioner can grant subsequent extensions depending on the merit of the case. (5) At the time of granting extensions, the Commissioner or the Chief Commissioner, as the case may be, will satisfy himself that there are sufficient reasons for granting extensions and will also monitor such cases. (6) The Off .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ers, including refusal of clearances under provisional assessments. (8) As soon as the assessments are finalised, necessary adjustments should be made within a period of 15 days and in case of any delay on the part of the assessees, the bond/securities must be enforced/encashed to safeguard the revenue. 2. Circular No. 288/4/97-CX dated 14.1.97, which contains the detailed procedure on provision .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X