Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment
 
 
Latest Circulars »
 Auction of Government of India Dated Securities December 05, 2016
 Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on December 05, 2016)
 RBI-Investment under PIS in M/s Laurus Labs Limited by FIIs/FPIs upto 49 per cent and NRIs upto 24 per cent
 RBI-Issuance of 35 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 RBI-Information from Unauthenticated Sources – Advisory to banks
 RBI-Aadhaar-based Authentication for Card Present Transactions
 RBI-External Commercial Borrowings (ECB)
 Issuance of 28 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 All You wanted to know from RBI about: Withdrawal of Legal Tender Status of ₹ 500 and ₹ 1000 Notes
 Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit

Regarding functional control of Special Valuation Branches
December, 13th 2012

Circular No. 29 /2012-Customs

 

 F. No. 465/12/2010 Cus. V

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

 

New Delhi, dated the 7th of December, 2012.

                                                                                  

To,

All Chief Commissioners of Customs,

All Chief Commissioners of Central Excise and Service Tax,

All Director Generals in CBEC

 

           

Subject: Functional control of Special Valuation Branches - Reg.

 

 

            Kind attention is invited to Board Circular No. 11/2001-Customs dated 23rd February 2001 issued from F. No. 467/32/2000-Customs V, prescribing conditions and procedure regarding  cases to be taken up for investigation by Special Valuation Branches (SVB) and their manner of processing and disposal. Presently SVBs are located in the Customs Commissionerates of Mumbai, New Delhi, Chennai, Kolkata and Bangalore and are functioning under the administrative control of the respective Commissioners of Customs.

 

 2.    The functioning of SVBs was reviewed by the Board with a view to strengthen their working.

 

3.         It has been decided to vest the Directorate General of Valuation (DGOV) with functional control over the SVBs. Consequently, the presently existing SVB sections with their existing staff will henceforth function under the supervisory control of the DGOV.

 

4.         The Board has also decided that the officers posted in SVBs shall not be given any additional responsibilities and they shall exclusively handle work relating to SVB investigations and related issues. The office of the DGOV shall closely monitor the pendency of the SVBs, approve the initiation of SVB inquiries, and supervise the investigations. Furthermore, the Board has desired that the DGOV continuously endeavor for qualitative improvement of SVB investigations/orders. 

 

5.         It is envisaged that on completion of investigation in a case, the proper officer in SVB will issue an order for determination of value under Section 14 of the Customs Act, 1962. The order will be sent to the importer concerned, the Custom House which had referred the case and to DGOV.

 

6.     The work relating to review, appeal and other legal matters arising out of cases investigated and orders passed by the proper officer in SVBs, shall continue to be handled by the jurisdictional Commissioners of Customs. Directorate General of Valuation will provide its views on the orders passed by the proper officer to the jurisdictional Commissioner of Customs, which will be given due consideration, when the orders are examined by Commissioners of Customs for review or acceptance under section 129D of the Customs Act, 1962.

 

7.      These instructions shall take effect from 1st January, 2013. 

 

8.         Publicity to this Circular may be given by way of issuance of public notice and standing order.

 

9.         Difficulties, if any, faced in the implementation of this circular, may be immediately brought to the notice of the Board.

 

10.        Please acknowledge receipt.

 

11.        Hindi version follows.

 

Yours faithfully,

 

(M. Satish Kumar Reddy)

Director (ICD)

----X----

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions