Directorate General Customs Valuation (DGCV) has revised the customs values of submersible pump with motor (plastic body). According to details, submersible pump with motor (plastic body) up to 100 watt were being imported and assessed at considerably lower values. Therefore, the Directorate has initiated an exercise to determine the customs values of submersible pump with motor (plastic body) under section 25A of Customs Act, 1969.
For the purpose, meetings were held in March, August and September, 2018 with the stakeholders including importers, officers from clearance Collectorates and representatives from trade bodies.
The stakeholders pointed out that these small plastic body submersible pumps with motors weighing less than 400 grams were mainly used in aquarium, water tanks and water coolers and were very cheap and available at very low prices in China. The valuation methods given in section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand. The transaction value method under sub-section (1) of section 25 of the Act ibid was found inapplicable because the requisite information under the law was not provided by the importers. The similar goods valuation methods provided in sub-sections (5) and (6) of section 25 of the Customs Act, 1969 provided some reference values but due to wide variations in the declarations, the same could not be relied upon exclusively.
Later, the market inquiries were conducted in terms of sub-section (7) of section 25 of the Customs Act, 1969 along with feedback given by the participants during the stakeholders' meetings. Subsequently, all gathered information was analyzed and evaluated that resulted in the determination of customs values of submersible pump with motor (Plastic Body) up to 100 Watt under sub-section (7) of section 25 of the Customs Act, 1969.
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