Valuation Of Goods For Customs Purposes

Last updated: 04 December 2024

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The Central Board of Indirect Taxes and Customs (CBIC) has issued amendments to the Customs Valuation Rules, 2001. This notification, dated 29th November 2024, updates how goods are valued for customs purposes in India. The amendments are made under Section 14(2) of the Customs Act, 1962, to ensure expediency and necessity in the valuation process.

Government of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes and Customs

Notification No. 84/2024-CUSTOMS (N.T.)

New Delhi, 29th November, 2024
08 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, namely:-

Official copy of the circular has been attached

FAQ :

This notification introduces amendments to the existing Customs Valuation Rules, 2001, to update the procedures for valuing goods for customs purposes in India.

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

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

The notification was issued on 29th November 2024.

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

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Notification No : Notification No. 84/2024-CUSTOMS (N.T.)
Published in Custom
Source : https://taxinformation.cbic.gov.in/view-pdf/1010230/ENG/Notifications

Attached File : 322600_11400_csnt84_2024.pdf

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