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TMI BlogProcedure foe dealing with case of suspected misdeclaration of value in applications licences issued between 1/4/1993 and 6/3/1995X X X X Extracts X X X X X X X X Extracts X X X X ..... r all columns in the application for a licence to be duly filled, including the quantity of each item to be imported and its CIF value based on the prevailing international price(s) further, this Circular also required that an application which was not in the prescribed form and/or is not complete in all respects shall be rejected. It's presumed that the procedure laid out in terms of the above mentioned Circular being followed uniformly by all the Regional licensing authorities. 2. Attention is invited to Para 110 of Handbook of Procedures (Vol. 1) 1992-97 pertaining to the year from 01/04/1992 (when VABAL Scheme was introduced) to 31.03.1993. In the EXIM Policy and Procedures introduced w.e.f. 01.04.1993, the relevant Para 110 of the Ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issued separately through ECA Guidelines. In so far as corrective measures to be taken for correction of the licences are concerned,the following guidelines, which have been formulated in consultation with the customs authorities, may be kept In view while dealing with such cases. 4. It should be possible for the Customs authorities to determine as to whether a Prima-facie case of over valuation/misdeclaration of FOB value of exports, with an intent to claim high CIF entitlements can be actually established, by comparing the international prices of items of import/export under a licence, as declared in the application for the licence, with the international prices as prevailing on the date of such application. Where the quantity/value of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing authority all the relevant material including the extent to which the scaling down has been approved by the committee, for initiating further action. 5. For dealing with cases as at 4(i) above the licensing authority upon receipt of such reference from the Customs. Should initiate promptly fur1her action for appropriate reduction in, or scaling down of the CIF value of the licence to the extent approved by the Screening Committee and thereafter intimate the same to the concerned Customs authorities In respect of VABALs issued between 01.04.1993 and 06.03.1995, where the expor1s had already taken place but where the impor1s have either not been made at all, or were par1ly made before 06.03.1995 on the basis of inflated values of impor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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