Taxation Laws (Amendment) Act,2006
Section 20. Amendment of Section 17
In the Customs Act,1962 (52 of 1962) (hereafter referred to as the Customs Act), in Section 17, after sub-section (4), the following sub-section shall be inserted, namely:-
“(5) Where any assessment done under sub-section (2) is contrary to the claim of the importer or exporter regarding valuation of goods, classification, exemption or concessions of duty availed consequent to any notification therefor under this Act, and in cases other than those where the importer or the exporter, as the case may be, confirms his acceptance of the said assessment in writing, the proper officer shall pass a speaking order within fifteen days from the date of assessment of the bill of entry or the shipping bill, as the case may be.