Page 114 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

A-390: iv - 8
Q-391: The value declared by the importer shall be examined with respect to the report of the
chartered engineer similarly, the declared value shall be examined with respect to the
depreciated value of the goods, if such comparison does not create any doubt regarding the
declared value of the goods, and the same may be appraised under
(i) Rule 1 of the CVR, 2007
(ii) Rule 2 of the CVR, 2007
(iii) Rule 3 of the CVR, 2007
(iv) None of the above
A-391: iii - Rule 3 of the CVR, 2007
Q-392: As provided in Section 14(1), the Custom Valuation (Determination of Value of Imported
Goods) Rules, 2007
(i) Valuation of Imported goods
(ii) Valuation of Identical goods
(iii) Valuation of Similar goods
(iv) None of the above
A-392 i - Valuation of Imported goods
Q-393: For the purpose of Customs Valuation Rules, in case of identical or similar goods, choose the
correct alternative from the following:
(i) Produced in the same country in which goods being valued were produced
(ii) Produced by the same manufacturer or producer
(iii) Produced by different manufacturer or producer, where no such goods were
available from same person
(iv) All of the above
A-393: iv - All of the above

DEMAND/DEMAND NOTICE
Q-394: Which one is correct on time limit for issue of demand notice?
(i) If the importer is an individual who uses goods personally, or is a government, or a
research or educational institution, or charitable institution, or hospital, a notice
has to be issued within a year.
(ii) In all other cases of imports or exports, this limitation is six months.
(iii) In case where there has been collusion, willful mis-statement or suppression of facts
by the importer or the exporter or their agents or employees, the period of
limitation will be five years, instead of six months or one year
(iv) All of the above
A-394: iv - All of the above

Q-395: Short note on demand notice
A-395: When the assessment is made in the Bills of Entry the amount of duty payable is
determined. The importers may pay the duty and clear the goods from Customs. However,
some times, the department may find that there was some short collection of duty due to
wrong classification, incorrect Rate of Duty, under valuation, incorrect calculation etc. In
such cases, the department has to issue a demand notice under Section 28(1) of the
Customs Act, 1962. The notice should indicate the amount payable and they

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