Customs (Assistance In Value Declaration Of Identified Imported Goods) Rules, 2023

The trend of undervaluing imported goods, for the purpose of evading customs duty or for other ulterior purposes, has been on a constant rise. Finance Act, 2022, amended section 14 of the Customs Act, 1962, with the intent of addressing the issue of undervaluation in imports. Now, the Central Government has notified the Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 (CAV Rules, 2023) which shall come into force from 11th February 2023, to tackle the menace of undervaluation of imports.

I. INTRODUCTION

The CAV Rules, 2023, issued under section 14 of the Customs Act, 1962 ('Customs Act') provide for the constitution of a Screening Committee and an Evaluation Committee, which have been assigned with the responsibility of identifying certain goods which are being undervalued generally so that appropriate procedural checks may be laid down for field offices to perform while assessing the imports of such goods. The Rules lay down a