Special valuation- customs
Gargi Ranade
(Querist) 31 August 2011
This query is : Resolved
Dear all,
We are an EOU, We are importing goods from related parties. Hence matter has been refferd to Customs- Special Valuation Branch (SVB), as per practice, SVB ordered for Provisional Assesement of related party Imports with 5% extra duty deposit (EDD) as per Circular No. 11/2001-Customs dated 23.02.2001.
Kindly let us know, wheather legally EDD can be made by an EOU ?
EOU is carrying out import clearance without payment of whole of custom duty as per Notification No. 52/2003 -customs dated 31.03.2003.
Waiting for reply,
Thanking you in advance.
C M Sharma
(Expert) 31 August 2011
Whether the imports are of Capital goods or that of raw material and components, is not clear.
You may make a reference to SVB, customs House, stating that
the duty is exempted hence EDD be waived,
or
it may be taken in the form of Bank Guarantee
Or
you may try submitting that no clearance on payment of duty would be made in domestic area until the matter is resolved by SVB, Customs and address the undertaking to SVB Customs and jurisdictional officers of the EOU.
C M Sharma, cms_929@yahoo.co.in
