Procedures for imports & exports assessment eased

New Delhi: The latest amendments in customs rules on provisional assessments of imports and exports will aid revenue protection, trade facilitation and bring closure to long-pending cases, industry experts said on Tuesday. The Central Board of Indirect Taxes and Customs (CBIC) has issued the Customs (Finalisation of Provisional Assessment) Regulations, 2025, aimed at enhancing speed, certainty, and transparency in customs administration. The new regulations lay down specific timelines for completing provisional assessments. Industry experts expect the move to alleviate persistent bottlenecks in trade and customs administration.

"The Customs (Finalisation of Provisional Assessment) Regulations, 2025 mark a long-awaited move towards certainty and efficiency in customs administration. By introducing clear timelines, CBIC has addressed a pain point that has long burdened both trade and authorities," said Manoj Mishra, Partner and Tax Controversy Management Leader, Grant Thornton Bharat.