Question : Valuation of Export-Import

(a) The guidelines/norms to monitor the under/over-valued export/import issued by the Directorate General of Valuation in the country;
(b) Whether the cases of violation of the said guidelines/norms have come to the notice of the Government during the last three years and the current year;
(c) If so, the details thereof, State/UT-wise and company-wise and the reasons therefore along with the action taken/being taken by the Government in such cases;
(d) Whether the Government has estimated the revenue loss on account of such under/over valued export/import across the country during the said period; and
(e) If so, the details thereof and if not, the reasons thereof along with the manner in which such loss is likely to be recovered from the violators and the further steps taken/being taken by the Government in this direction?

Answer given by the minister

MINISTER OF FINANCE
(SHRI ARUN JAITLEY)

(a) Directorate General of Valuation conducts studies on various commodities and issues advisories to guide assessment officers in verifying valuation of goods. The number of Alerts/Valuation Guidelines is as below:
Financial year No. of alerts/valuation guidelines issued
2013-14 5
2014-15 7
2015-16 13
2016-17 14
(b) to (e) Information is being collected and will be submitted shortly.

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