Assistance in value declaration: specified obligations and checks ensure importers substantiate declared transaction value for identified goods. The rules set procedures for identifying classes of imported goods suspected of undervaluation and require that, once specified as identified goods, importers declare prescribed information in the Bill of Entry and, if prompted by the Customs Automated System, fulfil additional obligations and submit to specified checks to demonstrate the truthfulness and accuracy of declared value; continued doubt by the proper officer triggers proceedings under rule 12 of the Customs Valuation Rules, 2007.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Assistance in value declaration: specified obligations and checks ensure importers substantiate declared transaction value for identified goods.
The rules set procedures for identifying classes of imported goods suspected of undervaluation and require that, once specified as identified goods, importers declare prescribed information in the Bill of Entry and, if prompted by the Customs Automated System, fulfil additional obligations and submit to specified checks to demonstrate the truthfulness and accuracy of declared value; continued doubt by the proper officer triggers proceedings under rule 12 of the Customs Valuation Rules, 2007.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
