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Circular No. 91/2003-CUS -14thOctober 2003
Government of India
Ministry of Finance
Department of Revenue
Sub: - Rule 10A in the Customs Valuation Rules, 1988 reg.
I am directed to state that during the Valuation Conference held at Mumbai on 21stand 22ndAugust, 2003, views were expressed that the Boards Circular No.16/2003, dated 17.03.2003 needed a review since it mandated the issue of a speaking order under Rule 10A of CVR, 1988, in all cases where enhancement of value was resorted to. It was pointed out that it might not be practicable/desirable to issue a speaking order in all such cases particularly where the enhancement of value has been done and that on many occasions, the importers agree to the enhancement of value based on the higher contemporaneous value noticed in the National Import Data Base (NIDB) made available by the Directorate of Valuation.
Under Secretary to the Government of India