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of <h1>Customs Circular Mandates Uniform Valuation Using Directorate Price Data to Prevent Under-Declaration of Imports</h1> The circular addresses concerns over significant discrepancies between declared import values and standard market prices for polymers and related commodities, highlighting instances of under-valuation. It directs customs authorities nationwide to ensure uniform valuation practices by relying on price data from the Directorate of Valuation and consulting relevant authorities when under-declaration is suspected. Customs formations are instructed to use published price information to determine accurate assessable values reflecting normal international trade prices. The circular emphasizes vigilance against fraudulent under-declaration by importers and mandates pre-emptive measures to prevent such practices, aiming to maintain consistency and fairness in customs valuation procedures.
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