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VALUATION/ASSESSMENT PRACTICE IN REPECT OF EXPORT OF IRON ORE-REG.

Customs - 27/2015 - Dated:- 22-7-2015 - GOVERNMENT OF INDIA OFFICE OF THE COMMISSIONER OF CUSTOMS (PORT) CUSTOMS HOUSE, 15/1 STRAND ROAD, KOLKATA-700001 PUBLIC NOTICE 27/2015 DATED 22.07.2015 SUBJECT:- The board has received reference relating to valuations of iron ore entered for export has been examined by the board. 1. It has been reported that Iron ore, bay its nature, undergoes a change in moisture Fe content with the passage of time including during transport. The Iron ore is tested both a .....

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rt of Iron Ore, fines and pellets, it has been decided that the following procedure shall be adopted; (a) When a consignment is entered for export of iron ore, fines or pellets, samples shall be drawn in presence of Customs following the procedure laid down by the bureau of Indian standards for drawal of samples of Iron ore, fines and iron ore pellets and sent or testing. (b) The declared value of the export goods shall be scrutinized in relation to the provisional invoice, contract, weight, pri .....

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out in the contract. Where variations in the two test reports are within tolerance limits provided in the contract and do not impinge upon the declared price, the proper officer may proceed to finalize the provisionally assessed shipping bill in terms of the provisions of Section 14 of the Customs Valuation (Determination of Value of Export Goods) Rules, 2007. (d) in cases where the load port test report and discharge port test report show a variation, so as to impinge upon the price, the proper .....

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