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Special Valuation Branch /Extra Duty Deposit Refund

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It is not right to say that Extra Duty Deposit Refund is a custom duty. Even it is not levied due to Customs (Provisional Duty Assessment) Regulation, 1963. We may call it a security deposit charged as per Para 9 of the Board`s Circular No. 11/2001-Cus., dated 23-2-2001. Currently it is charged at 1% on assessable value, but if the importer does not furnish reply to the questionnaire within 30 days of its receipt, the extra duty deposit will be increased to 5 % till the date of receipt of reply by the Department.

It is levied mainly on the imports carried by the related parties and in which the assessable value shown may not appropriate which may results some revenue loss to government. It is not imposed on every importer. For e.g. in case where subsidiary company imports from its Holding Company and the custom department thinks that assessable value shown by subsidiary is not appropriate then the department may levied Extra Duty Deposit Refund on import by subsidiary. It is refunded if importer prove assessable value is genuine. He has to take Special Valuation Branch Order and claim refund from customs.

Who can claim Special Valuation Branch Order Refund?

Simply it can be claimed by importer, on which Extra Duty Deposit Refund duty has been imposed on the basis of provisional assessment and the same being deposited before the clearing of goods.

Time limit for claiming Special Valuation Branch Order Refund

There is no limit for claiming Special Valuation Branch Order/Extra Duty Deposit Refund. It can be claimed at any time after obtaining Special Valuation Branch Order.

Documents required for Special Valuation Branch Order/Extra Duty Deposit Refund

Following are the documents required for claiming Special Valuation Branch Order/Extra Duty Deposit Refund:

  • Special Valuation Branch Order.
  • Acceptance Letter from review department regarding Special Valuation Branch Order.
  • Finalized Bill Of Entries.
  • Extra Duty Deposit Refund Chalan.
  • Purchase Invoice & Packing List.
  • Working sheet/calculation sheet.
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