The Central Board of Revenue (CBR) has given assignment to the Director General Valuation to take appropriate measures for controlling the menace of under-invoicing particularly in imports of cars by the diplomats.
Sources said on Monday that the issue came to the limelight during the last collector's of customs conference where DG Valuation was directed to constantly analyse and review valuation data and hold meetings with trade and industry to ensure that there is no under-invoicing of any sort in the collectorates of customs.
In this connection, the collectors have been asked to follow the advice of DG Valuation on checking under-invoicing, the sources maintained.
The CBR has also directed all valuation and assessing officers to utilise the database compiled by the DG Valuation or data available with the CARE project. The CBR has estimated to collect over Rs 20 billion by controlling the under-valuation of imported goods.
Moreover, all cases of 'provisional release' of imported goods would be sent to DG Valuation on top priority basis for analysing the same by the valuation authorities. The CBR will initiate legal proceedings against custom officials who fail to timely send the provisional release cases with all the documents to the DG Valuation, the sources added.
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