3. Self-assessment of imported and export goods:
3.1 Vide Finance Act, 2011, ‘Self-Assessment’ has been introduced under the Customs
Act, 1962. Section 17 of the Customs Act, 1962 provides for self-assessment of duty
on imported and export goods by the importer or exporter himself by filing a Bill of
Entry or Shipping Bill, as the case may be, in the electronic form (new Section 46 or
50). Thus, under self-assessment, the importer or exporter who will ensure that he
declares the correct classification, applicable rate of duty, value, benefit of exemption
notifications claimed, if any, in respect of the imported / export goods while presenting
Bill of Entry or Shipping Bill.
3.2 Section 46 of the Customs Act, 1962 makes it mandatory for the importer to make
entry for the imported goods by presenting a Bill of Entry electronically to the proper
officer except for the cases where it is not feasible to make such entry electronically.