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Need for rules to assist imported goods valuation unclear

The draft rules specify 11 types of imports that will be exempted from application of the rules

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BS Opinion | Indian Economy | Customs

TNC Rajagopalan 



TNC Rajagopalan

The Central Board of Indirect Taxes and (CBIC) has released the draft (Assistance in Value Declaration of Identified Imported Goods) Rules, 2022, and invited suggestions, views, comments, feedback etc. from the stakeholders. This follows the amendment to Section 14 of the Act, 1962, through the Finance Act, 2022, that let the CBIC make rules specifying additional obligations of the importer in respect of a class of imported goods whose value, the CBIC has reasons to believe, is not being declared correctly.

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First Published: Sun, October 09 2022. 22:46 IST

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