Board Notification No. 91/2017-Customs (N.T) dated 26.09.2017 and Circular No.39/2017 -Customs dated 26.09.2017 on the amendment of Customs Valuation (Determination of value of imported goods) Rules - Customs - TRADE FACILITY NO. 12/2017

GOVERNMENT OF INDIA MINISTRY OF FINANCE, DEPARTMENT OF REVENUE OFFICE OF THE COMMISSIONER OF CUSTOMS CUSTOM HOUSE, WILLINGDON ISLAND, COCHIN-682009 F.No.C1/03/2016 TU. Cus. Dated: 05.10.2017 TRADE FACILITY NO. 12/2017 Subject: Board Notification No. 91/2017-Customs (N.T) dated 26.09.2017 and Circular No.39/2017 -Customs dated 26.09.2017 on the amendment of Customs Valuation (Determination of value of imported goods) Rules- Reg. Kind attention of exporters, importers, Customs Brokers, Steamer Agents and all other stakeholders is drawn to Notification No. 91/2017-Customs (N.T) dated 26.09.2017 and Circular No.39/2017 -Customs dated 26.09.2017 (Copies enclosed) regarding rules to amend the Customs Valuation (Determination of value of imported goods) Rules (CVR)2007. 2. To bring in clarity to the term place of importation in rule 2 of Customs Valuation (Determination of value of imported goods) Rules, 2007 clause (da) is inserted after clause (d): place of importation means the customs station where the goods are brought for being cleared for home consumption or for being removed for deposit in warehouse. . 3. Further amendments with respect to valuation of imported goods under section 14 of Customs Act, 1962 have also been clarified by the said notification/circular. All the stake holders are hereby informed that the transaction value of the imported goods in terms of section 14 of the Customs, Act, 1962 would include the costs incurred up to the place of importation (as clarified vide para 3.1 of circular 39/2017) and all the relevant documents related to the same shall be submitted before the clearance of cargo. 4. Consequent to the above mentioned changes notified by the Board, all the stakeholders are required to take cognisance and comply with the same. Sd/- (Pullela Nageswara Rao) Principal Commissioner of Customs