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of <h1>Ministry of Finance Circular Warns Against Mis-declaration in CD-Deck Mechanism Imports for Concessional Duty Benefits.</h1> The circular from the Ministry of Finance addresses the issue of mis-declaration in the import of CD-Deck Mechanisms, where importers falsely declare complete CD mechanisms as parts like 'pick up unit' or 'lens unit' to benefit from a concessional duty rate under notification no. 25/99-Cus. The notification allows a 5% customs duty for parts used in manufacturing CD deck mechanisms, provided specific procedures are followed. The circular highlights the components of a CD mechanism and reports of under-invoicing, urging caution in examination and valuation of such imports. The information is to be disseminated to relevant parties.
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