Special Valuation Branch( SVB) in Indian Customs
Indian Customs Department has its own procedures, laws, rules, and regulations. There is a branch of Indian Customs at every commissionerate level which examine relationships of importers with their suppliers for the purpose of fair valuation. The name of the branch is Special Valuation Branch in short SVB. SVB is a full-length subject itself and is very complex in nature. THIS BLOG IS MEANT TO GUIDE IMPORTERS TO GET INTO INTRICACIES OF SVB. There are thousands of SVB consultants in the market, but most of them making fools of their clients. Getting an SVB order (which is now known as Investigation Report or IR) is not the sole purpose of the whole exercise, but getting a fair valuation for all of the future shipments should be the sole objective. Guidelines for Special Valuation Branch Enquire is prescribed in Circular 05-2016 read with Customs Valuation (Determination of Value of Imported Goods ) Rules 2007. As per section 14 of the Customs Act 1962 for accepta...