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Specific rates of duty on polymers
Circular No. 34 dated 18th June
1999
It has been
brought to the notice of the Board that in respect of several item of imports
wide variation between the declared import values and normal prices or prices
indicated in accredited journals which publish traded prices for various
commodities is being observed. In particular, commodities prone to such
under-declaration of value are stated to be polymers such as LDPE, HDPE, PP,
ferrous and non-ferrous scrap, tin plate waste and steel rolled products.
2. The
Directorate of Valuation has been, from time to time, circulating amongst the
Customs formations, the published prices for the above mentioned commodities as
also assessable values accepted by various Custom House. This Directorate has
also been disseminating information about specific instances of under-valuation.
Though Customs House, Air Cargo Complexes and ICDs have been using the
information supplied by the date of Valuation for determining the assessable
value of imported products, there have been cases where declared values, found
to be much less than the indicative prices circulated by the date of Valuation,
have been accepted. This gives room to representations from the trade and
industry and undue advantage to some and should be avoided.
3. It
is, imperative that uniformity in valuation practices should prevail over the
country. Any deviation of divergence should be supported by sound reasons and
justified grounds. All the Customs formations are hereby advised to consult the
date of Valuation or the date General of Revenue Intelligence in cases wherever
under-declaration of value is suspected.
4. The
price information circulated by the date of Valuation should also be used to
determine correct assessable values. Efforts should also be made to determine
the value, which reflects the normal prices in the course of the international
trade. Any attempt on the part of the importers to under-declare the value
should be kept under close watch and steps should be taken to curb fraudulent
practices by taking pre-emptive checks.
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