MANU/CUCR/0039/2017

Ministry : Ministry of Finance

Department/Board : CBEC Customs

Circular No. : 39/2017-Customs

Date : 26.09.2017

Notification/ Circulars Referred : Notification 91/2017 Customs (N.T) dated 26th September, 2017 MANU/CUSN/0101/2017

Citing Reference:
Notification 91/2017 Customs (N.T) dated 26th September, 2017 MANU/CUSN/0101/2017  Referred

To,

All Principal Chief Commissioners of Customs
All Chief Commissioners of Customs
All Principal Commissioners of Customs
All Commissioner of Customs

Amendment to Customs Valuation Rules - Notification No. 91/2017 (NT) dated 26.9.17

The valuation of imported and export goods is governed by the provisions of Section 14 of the Customs Act, 1962 and the rules made thereunder. The Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (CVR) contain the detailed provisions for arriving at the transaction value of the imported goods, on which the customs duty is levied.

2. A need had arisen to examine certain provisions of the CVR in light of Supreme Court's ruling in the case of M/s Wipro Ltd. Vs. Assistant Collector of Customs - 2015 (319) ELT 177 - S.C dated 16/04/2015

2.1 After examination and public consultations, the Government has amended the CVR vide Notification 91/2017 Customs (N.T) dated 26th September, 2017, as explained below:

Definition of the term 'place of importation'

3. The term "place of importation" has been used in the CVR; however, the term was not defined. To bring in clarity, the "place of importation" has been defined as:

"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 a warehouse"