No Penalty for Misclassification in Self-Assessment of Bill of Entry, Reassessment Governed by Section 17(4.

Levy of penalty - Mis-declaration of goods - Self assessment of Bill of entry - While the importer is required to subscribe to the truth of the contents of the Bill of Entry, it refers to facts and not opinions - Self-assessment is subject to any reassessment by the proper officer. Self-assessment can also be appealed against to the Commissioner (Appeals). They can assess duty as per their understanding and the officers are free to reassess it as per Section 17(4). - Mis-classification or incorrect assessment of duty does not amount to mis-declaration in the Bill of Entry nor does it attract any penalty. - No penalty - AT .....

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