Misdeclaration of import/export values: licensing authorities to scale down CIF entitlements and refer cases for enforcement. Administrative procedure directs Customs to determine prima facie over valuation by comparing declared international prices with prevailing prices at application date and to refer suspect cases to a Screening Committee. The Committee will decide whether licences require scaling down of CIF entitlements, penal proceedings, or no action. Licensing authorities must implement approved reductions and limit scaling down to unutilised CIF balances where imports were partly or not made before the cut off; transferable licences require corrective steps or penal action if transferees refuse.
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.
Misdeclaration of import/export values: licensing authorities to scale down CIF entitlements and refer cases for enforcement.
Administrative procedure directs Customs to determine prima facie over valuation by comparing declared international prices with prevailing prices at application date and to refer suspect cases to a Screening Committee. The Committee will decide whether licences require scaling down of CIF entitlements, penal proceedings, or no action. Licensing authorities must implement approved reductions and limit scaling down to unutilised CIF balances where imports were partly or not made before the cut off; transferable licences require corrective steps or penal action if transferees refuse.
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