TMI BlogValuation of Second Hand MachineryX X X X Extracts X X X X X X X X Extracts X X X X ..... 08/2018 dated 15.03.2018 provides that Customs shall rely upon inspection report either issued at the port of loading by overseas Chartered Engineer or issued upon import by a pre-shipment inspection agency (PSIA) notified by DGFT, or by Chartered Engineer empanelled by the Customs House where the DGFT approved PSIAs are not available. 3. Keeping in view, the shortage of Chartered Engineer available for valuation of second hand machinery /goods which are over and above PSIAs, notified by DGFT, Public Notice No. 09/2019 dated 20.03.2019 was issued by this Commissionerate inviting applications for empanelment of Chartered Engineers for examination/valuation of Second Hand machinery/goods in the jurisdiction of Commissioner of Customs, ACC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, there may be certain difficulties in applying Rule 4 or 5 of the CVR, 2007. These difficulties arise from the fact that the goods being valued are used second hand machinery, and it may be difficult to find data relating to sales of such goods to India, which could be considered identical or similar and meet all the requirements of Rule 4 and 5 of the CVR, 2007. (iii) Similarly, application of Rule 7 of CVR, 2007 where under goods being appraised, are valued on the basis of subsequent sales of identical or similar goods in India, may also not be possible because the goods being apprised are imported for use rather than for resale. The difficulty of finding such sales of goods which could be considered identical or similar to the goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s shall be prepared by the Chartered Engineer is provided as 'Form A' enclosed herewith (Annexure-IV). In the event that an importer does not produce an inspection/appraisement report in the prescribed format from the country of sale, he shall be free to engage the services of any Chartered Engineer from those empanelled by the Commissionerate of the port of import. (ix) No importer, shall be required an inspection / appraisement report of second hand machinery from a particular Chartered Engineer. The importer shall be free to select any Chartered Engineer, empanelled by this Commissionerate of the port of import for the respective class of goods, if so required. 5. To sum up, the following guidelines shall be followed: (a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evaluate the evidence put forth by the importer and after giving due consideration to factors such as depreciation, refurbishment or recondition value conforms to Rule 3 of CVR, 2007. Otherwise, the proper officer may proceed to determine the value of the goods, sequentially, in terms of Rule 4 to 9 of CVR, 2007. 6. As mentioned in para 3 above, this office has already initiated process of empanelment of Chartered Engineer vide Public Notice No. 09/2019 dated 20.03.2019. The process of empanelment is underway and is being concluded expeditiously. Meanwhile, Valuation of Second 1--land Machinery will continue in the manner as prescribed in Public Notice No. 08/2018 dated 15.03.2018 issued by this Commissionerate. 7. Public Notice No. 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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