SPECIAL VALUATION BRANCH

Special Valuation is applicable to related party Transactions : Where Importer & seller are related, then the transaction value are normally not accepted unless it is prompt that the circumstances of the sale of the imported goods indicate that the relationship did not influence the price.

Relationship – Custom Valuation

Related person are

• Officers or directors of one another’s business;
• Legally recognized partners in business;
• Employer and employees;
• Any person directly or indirectly owns, controls or holds 5 % or more of the outstanding voting stock or shared of both of them
• One of then are directly of indirectly control a third person;
• Together they directly or indirectly control a third person; or
• Members of the same family.

Procedure of clearance.

• SVB registration is to be done with first import.
• Initial registration will take 7-10 working days
• Clearance is allowed after SVB Regn provisionary with 1% revenue deposit and questionnaire is issued to importer.
• Reply to questioner need to be replied within 30 days failing which RD amount will increase to 5%
• SVB finalisation process takes 4-6 months of all the supporting documents to prove that the declared value is genuine