Assessment under Customs: An unending dilemma!
NITYA Tax Associates is proud to present their recent write-up in the ‘Article’ series on trending Indirect Tax issues. A gist of the next article in the series is as under:
Article 72 – “Assessment under Customs: An unending dilemma!”
The Customs Law underwent an overhaul in year 2011 and the process of assessment of imported goods by Proper Officer was substituted with self-assessment process. The self-assessment process was fraught with challenges. One such issue hovering the industry at large is whether or not there is a requirement of challenging a Bill of Entry in each case before claiming refund by the taxpayer or before raising demand by the Proper Officer for normal period of limitation, particularly when there is no lis between the importer and the Revenue
Through this article, Our Partner, Mr. Dharnendra Kumar Rana, Managing Associate, Mr. Sourabh and Associate, Mr. Mohit Pugalia have deliberated upon the requirement of challenge to bills of entry in appeal or the sufficiency of amendment to bills of entry in order to claim a refund.
Please click on the below link to read our latest article titled “Assessment under Customs: An unending dilemma!”.