GSTnews item8 December 2022

CBIC issues draft rules for Customs valuation

News Update

CBIC issues draft rules for Customs valuation

Published Date: Dec 09, 2022
Source: ICAI PD Committee
Importers will have to furnish additional information at Customs Automated System and while filing a bill of entry in case of "specified goods" The Central Board of Indirect Taxes and Customs (CBIC) has released the draft rules pertaining to the Customs Valuation of imported goods, which will effectively implement the amendment proposed in Section 14 of the Customs Act which deals with the valuation of imported goods.
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CBIC issues draft rules for Customs valuation