Section 60 of Finance Act 2018
[Section 60 of Finance Act 2018 deals with Amendment of section 17 and is covered in CHAPTER IV INDIRECT TAXES]
Amendment of section 17
60. In the Customs Act, in section 17,—
(i) | in sub-section (2),— |
(a) | for the words “the self-assessment of such goods”, the words, figures and brackets “the entries made under section 46 or section 50 and the self- assessment of goods referred to in sub-section (1)” shall be substituted; | |
(b) | the following proviso shall be inserted, namely:— | |
“Provided that the selection of cases for verification shall primarily be on the basis of risk evaluation through appropriate selection criteria.”; |
(ii) | in sub-section (3), for the words “verification of self-assessment”, the words “the purposes of verification” shall be substituted; | |
(iii) | in sub-section (5), the words “regarding valuation of goods, classification, exemption or concessions of duty availed consequent to any notification issued therefor under this Act” shall be omitted; | |
(iv) | sub-section (6) shall be omitted. |
Finance Act 2018 : Assented by President : Download Print Notification