Projects

- Time limit of two years (up to one year extension possible for sufficient cause) is proposed to
be introduced for finalizing provisional assessments under the Customs Act, 1962 with certain
exceptions
- An option for revision of custom entries for ascertaining correct liability for payment of duty
or claiming refund is proposed to be provided to importers and exporters
- The time limit to claim refund in case of amendment of documents or revision of custom
entries is proposed to be 1 year from date of payment of such duty/interest
- Interim board to be constituted from 01.04.2025 onwards for taking new applications and
exercising functions and powers of the settlement commission as prescribed under Section
127 of Customs Act, 1962. Pending applications before Settlement Commission as on
01.04.2025 shall also be transferred to Interim Board

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