Relating to Customs Valuation Exchange Rates

Last updated: 14 December 2024

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The Central Board of Indirect Taxes & Customs (CBIC) has issued amendments to the Customs Valuation Exchange Rates. This notification, dated 13th December 2024, updates regulations previously established in 2001. The changes are made under the authority of the Customs Act, 1962, to ensure necessary and expedient adjustments to customs valuation practices.

Government of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes and Customs
Notification No.85 /2024-CUSTOMS (N.T.)

New Delhi, 13th December, 2024
22 Agrahayana, 1946 (SAKA)

S.O. ... (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001 Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001,

Official copy of the circular has been attached

FAQ :

The notification amends the existing Customs Valuation Exchange Rates to make necessary and expedient adjustments to customs valuation practices.

The notification has been issued by the Central Board of Indirect Taxes & Customs (CBIC) of the Government of India, Ministry of Finance, Department of Revenue.

The notification was issued on 13th December 2024.

The amendments are made in exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962.

This notification amends the Government of India notification No. 36/2001 Customs (N.T.), dated 3rd August 2001.

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Notification No : Notification No.85 /2024-CUSTOMS (N.T.)
Published in Custom
Source : https://taxinformation.cbic.gov.in/view-pdf/1010240/ENG/Notifications

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