Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 (CAVR, 2023) issued to Address Undervaluation in Imports

The Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 (CAVR, 2023) has been issued by the Central Government for addressing the issue of undervaluation in imports. The rules provide for processes to be followed before the Board may specify a class of imported goods, for which there is a reason to believe that the value may not be declared truthfully or accurately. The rules also provide procedures for importers of identified goods, once the relevant class of goods have been specified as identified goods by the Board. The rules also specify that where the proper officer still has reasonable doubt about the truth or accuracy of the value declared in relation to the identified goods, the further proceedings shall be taken in accordance with rule 12 of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (CVR, 2007) only. The rules are self-contained and provide guidance for both, the person making the reference to the Board and the undertaking of detailed examination. [Circular No. 01/2023-Customs dated 11.01.2023]