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 IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsNotification No.85 /2024-CUSTOMS (N.T.)
New Delhi, 13th December, 202422 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 Gover
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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