Appointment of Expert Panel Valuers for valuing Natural & Lab Grown Rough Diamonds, Natural & Lab Grown Cut and Polished Diamonds, Precious and Semi-Precious Stones, Gold and Gold Jewellery, Silver and Silver Jewellery, Pearls and Valuable Articles etc. - Calling for nominations

BHARAT SARKAR

भारत सरकार/ Government of India िव मं ालय / Ministry of Finance
कायालय आयु सीमाशुक / Office of Commissioner of Customs Airport Special Cargo Commissionerate (APSC) Avas Corporate Point, Andheri-Kurla Rd., Mumbai-59 Phone No.:022-29202701, Email: apsc.mumbai@gov.in INDIAN CUSTOMS

F.NO: I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI
Date:03-09-2025 PUBLIC NOTICE NO. 42/2025

Subject: Appointment of Expert Panel Valuers for valuing Natural & Lab Grown

Rough Diamonds, Natural & Lab Grown Cut and Polished Diamonds, Precious and Semi-Precious Stones, Gold and Gold Jewellery, Silver and Silver Jewellery, Pearls and Valuable Articles etc. - Calling for nominations - Reg. Attention of trade, industry associations, professional valuers, and the public is invited towards the appointment of a panel of Expert Valuers for the purpose of valuing Natural & Lab Grown Rough Diamonds, Natural & Lab Grown Cut and Polished Diamonds, Precious and Semi-Precious Stones, Gold and Gold Jewellery, Silver and Silver Jewellery, Pearls and Valuable Articles etc., which are meant for export/import at Precious Cargo Customs Clearance Centre (PCCCC) of Airport Special Cargo Commissionerate, Mumbai Customs Zone III. SCOPE OF WORK 2. The Expert Valuer, depending on their declared domain expertise, may evaluate the following products: i. Natural Rough Diamond & Lab Grown Rough Diamond ii. Natural Cut and Polished Diamonds & Lab Grown Cut and Polished Diamonds iii. Plain Silver Jewellery iv. Studded Silver Jewellery v. Plain Gold Jewellery vi. Studded Gold Jewellery vii. Colored Gemstones (Precious and Semi-Precious) viii. Natural/Real/Keshi Pearls ix. Pearls Cultured (South Sea/Akoya) x. Pearls (China & Fresh Water) xi. Synthetic Gemstone xii. Natural Industrial Diamond Powder (NIDP) 3.

ecious and Semi-Precious) viii. Natural/Real/Keshi Pearls ix. Pearls Cultured (South Sea/Akoya) x. Pearls (China & Fresh Water) xi. Synthetic Gemstone xii. Natural Industrial Diamond Powder (NIDP) 3. The Expert Valuers so appointed will be required to make themselves available at any time during the day as and when their services are required in the above cited I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025 DIN:20250979NZ0000666F00

jurisdiction. 4. The Expert Valuers will be required to provide a detailed assessment report in the standardized template as provided by the Department. 5. The Expert Valuers are required to present themselves before any adjudicating authority/Appellate Authority/Courts to give evidence/produce relevant records, as and when required. 6. The services of Expert Panel Valuers will be rendered on a purely voluntary basis without any remuneration or service fees. STANDARDIZED SELECTION PROCESS 7. The Department proposes to implement a comprehensive three-tier standardized assessment methodology for empanelling Expert Valuers, across three evaluation phases: CV Screening: Initial evaluation based on qualifications and experience Practical Assessment: Hands-on evaluation using certified / reference materials and standardized equipment at PCCCC or any other facility. Interview: Comprehensive assessment by the selection committee PROFESSIONAL ASSESSMENT 8.

n evaluation using certified / reference materials and standardized equipment at PCCCC or any other facility. Interview: Comprehensive assessment by the selection committee PROFESSIONAL ASSESSMENT 8. The interview and practical evaluation components will be conducted in partnership with recognized gemological institutes, depending on availability and expertise requirements. 9. Practical assessments will be conducted at PCCCC premises or any other facility utilizing standard equipment and supervised by Customs officials along with experts from gemological institutes. APPLICATION AND SELECTION PROCESS 10. Applications are invited in the prescribed proforma Form-I (Annexure-I) enclosed to this Public Notice, from Expert Valuers for providing services related to valuation of items stated above, at PCCCC, Bharat Diamond Bourse, BKC, Bandra East, Mumbai – 400051. 11. Applicants shall submit applications in the prescribed proforma with prescribed undertaking along with supporting documents, self-certified copies of relevant certificates, GST Registration Certificate (if applicable), and all certificates of experience as per Annexures. (Eligibility criteria and other conditions are detailed in Annexure-II. Incomplete applications will be summarily rejected.) 12. The Department reserves the right to call for additional documents/information from applicants if necessary. Applicants must submit required documents within the prescribed time limit. 13.

cted.) 12. The Department reserves the right to call for additional documents/information from applicants if necessary. Applicants must submit required documents within the prescribed time limit. 13. Applications will be shortlisted based on eligibility criteria, followed by the three- I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

phase evaluation process comprising CV assessment, practical evaluation, and interview. 14. Date, timing and venue for practical evaluation and interviews will be published on the website and notice boards at PCCCC, BDB, BKC, Bandra East, Mumbai and APSC, Avas Corporate Point, Andheri-Kurla Rd., Mumbai-59. 15. Shortlisted candidates for practical evaluation and interviews will be intimated individually by email. APPOINTMENT TERMS 16. For firms/companies, only employees/partners/directors who appear and qualify in the assessment process will be authorized to carry out valuations. The appointment order will specify the names of qualified individuals. 17. Upon appointment, a Standing Order will be issued. The appointment shall be for a period of 1 year or as decided by the Department, subject to satisfactory performance with bi-annual/quarterly punctuality and performance reviews. 18. The selection is non-transferable. Expert Valuers cannot lease/transfer/sublet or appoint agents for the services. 19. Selected Expert Valuers must submit bi-annual self-appraisal reports to assess their performance and determine fitness to continue. GENERAL CONDITIONS 20.

blet or appoint agents for the services. 19. Selected Expert Valuers must submit bi-annual self-appraisal reports to assess their performance and determine fitness to continue. GENERAL CONDITIONS 20. Submission of wrong information/valuation will result in immediate suspension/cancellation of appointment and may attract penal provisions under the Customs Act, 1962. 21. Submission of application does not confer any right for selection. The Department reserves the right to accept or reject applications, and no claims will be entertained. 22. Duly filled and signed applications with required documents shall be submitted to: The Joint Commissioner of Customs PCCCC, Bharat Diamond Bourse BKC, Bandra East, Mumbai – 400051 Email: pcccc-mum@gov.in, pccccmumbai2010@gmail.com Phone: 022-33921983 Last date of submission: 22/09/2025 up to 17:00 Hours 23. For further information or in case of any difficulty faced please contact the Joint Commissioner of Customs, PCCCC at the above address.

COMMISSIONER OF CUSTOMS, AIRPORT SPECIAL CARGO MUMBAI CUSTOMS ZONE III I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025 SIGN

ioner of Customs, PCCCC at the above address.

COMMISSIONER OF CUSTOMS, AIRPORT SPECIAL CARGO MUMBAI CUSTOMS ZONE III I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025 SIGN

Copy to:

1. The Pr. Chief Commissioner of Customs, Mumbai Zone III
2. All formations under Mumbai Zone III
3. Gem & Jewellery Export Promotion Council (GJEPC)
4. All India Gem & Jewellery Domestic Council (GJC)
5. National Gems And Jewellery Council Of India (NGJCI)
6. Mumbai Wholesale Gold Jewellers Association
7. India Bullion and Jewellers Association Ltd.
8. SEEPZ Gems & Jewellery Manufacturers’ Association (SGJMA)
9. All recognized professional valuer associations
10. GIA India/GII
11. Website for publication
12. Notice Board

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ANNEXURE-I Form-I PROFORMA FOR APPLICATION (Please refer to Eligibility and Other Conditions as per Annexure-II) (*self-attested copies of supporting documents to be submitted)

1. Name of the Applicant*:

2. Father's/Mother's Name:

3. Date of Birth:

4. Present Address*:

5. Permanent Address:

6. PAN Number*:

7. GSTIN (if applicable)*:

8. Aadhaar Number:

9. Email ID:

10. Telephone/Mobile No.(s):

11. Qualifications: Educational Qualification Name of InstitutionYear of Passing Specialization

r Number: 9. Email ID: 10. Telephone/Mobile No.(s): 11. Qualifications: Educational Qualification Name of InstitutionYear of Passing Specialization

12. Professional Memberships and Certifications: Professional Body/Institute Membership/Certification Type Registration/Certificate Number Valid Till Specialization Area

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13. Experience in Valuation/Assessment: (Mention period with documentary proof) Organization/Department Period of Experience (From-To) Type of Goods/Materials Valued Position Held Contact Details

14. Specific Expertise in the Following Categories: (Please tick applicable categories and provide details) ☐ Natural Rough Diamond & Lab Grown Rough Diamond ☐ Natural Cut and Polished Diamonds & Lab Grown Cut and Polished Diamonds ☐ Plain Gold Jewellery ☐ Studded Gold Jewellery ☐ Plain Silver Jewellery ☐ Studded Silver Jewellery ☐ Colored Gemstones (Precious and Semi-Precious) ☐ Natural/Real/Keshi Pearls ☐ Pearls Cultured (South Sea/Akoya) ☐ Pearls (China & Fresh Water) ☐ Synthetic Gemstone ☐ Natural Industrial Diamond Powder (NIDP)

15. Details of Previous Panel Experience: Government Department/Agency Panel Name Period of Empanelment Reason for Exit

16. Government Approval Status: (Details of Government Approved Valuer Registration)

ent Department/Agency Panel Name Period of Empanelment Reason for Exit

16. Government Approval Status: (Details of Government Approved Valuer Registration)
17. Is applicant applying as: ☐ Individual ☐ Firm ☐ Company
18. If applying on behalf of Firm/Company, provide following details: i. Name of the Firm/Company: ii. Type of Organization: ☐ Partnership Firm ☐ Private Limited Company ☐ Public I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

Limited Company ☐ LLP iii. Registration Number and Date: iv. Registered Office Address: v. Head Office Address: vi. Details of Partners/Directors: Name Designation Contact Details

vii. Authorized Representatives for Valuation Work: (Only qualified personnel who will appear for assessment) viii. Quality Policy and Certifications: (If available) ix. Standard Operating Procedures for Valuation: (If available) 20. Any other relevant information/achievements in the field of valuation: 21. Availability and Commitment: Can you make yourself available 24x7 for urgent valuation requirements? ☐ Yes ☐ No Expected response time for valuation requests: _______ hours

DECLARATIONS I/We hereby declare that:

1. The details furnished above are true and correct to the best of my/our knowledge and belief, and I/we undertake to inform of any changes immediately.
2. I/We satisfy the eligibility conditions as specified in Annexure-II of this Public Notice.
3. I/We accept all terms and conditions set out in Annexure-II of the Public Notice.

nges immediately. 2. I/We satisfy the eligibility conditions as specified in Annexure-II of this Public Notice. 3. I/We accept all terms and conditions set out in Annexure-II of the Public Notice. 4. I/We am/are citizen(s) of India. 5. I/We have not been removed/dismissed from valuation-related service/employment earlier. 6. I/We have not been found guilty of misconduct in professional capacity. 7. I/We have not been convicted of any offence and sentenced to imprisonment. 8. I/We have not been convicted of any offence under Customs Act, 1962, Central Excise Act, 1944, Finance Act, 1994, CGST & IGST Act, 2017. 9. I/We have no complaints registered with CBI, police, or any court of law. 10. I/We am/are not undischarged insolvent(s). 11. I/We undertake to keep the Department informed of any events that would make me/us ineligible. 12. I/We have not concealed or suppressed any material information and have made complete I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

nts that would make me/us ineligible. 12. I/We have not concealed or suppressed any material information and have made complete I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

disclosure. 13. I/We shall act with independence, integrity, and objectivity while carrying out assigned work. 14. I/We am/are not related to any personnel in the Department dealing with valuation work. 15. I/We agree to comply with all terms and conditions mentioned in Public Notices issued by the Department. 16. I/We understand that the services will be rendered on a purely voluntary basis without any remuneration. Date: _______________ Place: ______________ Signature(s) with Name(s) (Individual/All Partners/Directors) (*Strike out whichever is not applicable)

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ANNEXURE-II ELIGIBILITY CONDITIONS FOR APPOINTMENT OF EXPERT PANEL VALUERS AND OTHER CONDITIONS

1. All Expert Panel Valuers appointed by Customs shall be governed by the provisions of the Public Notices and Instructions issued by the department from time to time.
2. While conducting a valuation, Expert Panel Valuers have to comply with the Public Notice, Standard Operating Procedure laid out by the department and maintain the highest professional standards.
3. Qualifications and Work Experience: i. It is necessary that Expert Panel Valuers possess proper educational qualifications which make him competent to carry out the task of valuation of Valuables. In addition, relevant work experience is also important.

that Expert Panel Valuers possess proper educational qualifications which make him competent to carry out the task of valuation of Valuables. In addition, relevant work experience is also important. Persons possessing the following educational qualifications and work experience shall be eligible for appointment as Expert Panel Valuers: a. Educational Qualification: Specialized qualification/certification in valuation of precious metals, gems and jewellery is preferred. b. Proficiency in English language would be added advantage. c. Any Qualification/Certification in valuation of precious metals, gems and jewellery is preferred. d. Work Experience: FIVE years of work experience in the field of valuation of intended goods. Work experience can be reduced or waived by the Selection Panel based on the higher education qualification or extraordinary achievement in the field. ii. Applicants appointed on the basis of criteria of qualification and certifications prescribed hereinabove shall be eligible for appointment provided they have not been de-listed/de-panelled/removed for unsatisfactory performance and/or for negligence and/or for professional misconduct and/or for any fraudulent activity and/or for any other reason whatsoever, at the discretion of the Department. iii. Applicant should possess sound knowledge of BIS / Hallmark/Certifications and other applicable Acts. They should have understanding of 4Cs methodology for diamond grading, knowledge of synthetic vs. natural identification techniques and awareness of international valuation standards and market practices.

should have understanding of 4Cs methodology for diamond grading, knowledge of synthetic vs. natural identification techniques and awareness of international valuation standards and market practices. They should have knowledge of the latest equipment and technology available in the market for valuation. 4. Qualifications and Previous Work Experience: a. In case of appointment of partnership firms and companies for undertaking valuations, the qualification and experience shall apply to all partners and key personnel/ directors respectively of the partnership firm and company unless otherwise specified. b. Applicants should provide evidence of previous work experience to the Department. Reference checks on applicant will be carried out by the Department before I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

empanelling on its panel to verify the competence, performance and service quality of applicant. c. For the purpose, applicant shall necessarily submit AT LEAST TWO reference letters from Government Departments/Public/Private Sector banks /Financial Institutions/DRT/Courts/Undertaking where the applicant had done valuation previously or companies for whom the applicant had done valuations previously, obtained on letter head and duly signed by a senior level official at Zonal/Head Office/Head of the organisation and bearing rubber stamp of the issuing office/entity. d. Experience shall be calculated basis the experience letter/certificate issued by the State/Central Government Department/PSU/Scheduled Banks/reputed organizations. e.

of the issuing office/entity. d. Experience shall be calculated basis the experience letter/certificate issued by the State/Central Government Department/PSU/Scheduled Banks/reputed organizations. e. Expert Panel Valuers should have thorough knowledge of the industry concerned and also the type of goods to be valued. f. Expert Panel Valuers should constantly update their knowledge-base by actively participating in various continuing education programmes including seminars, conferences, workshops, training programmes, capacity building programmes, etc. 5. Retired Staff Members of any Department/organization/Company/Firm: A retired staff member who had worked as Expert Panel Valuer, is otherwise, eligible for appointment may also be considered for appointment by the Department subject to the restrictions that i. No punishment/penalty arising out of disciplinary proceedings has been imposed upon him/her either during the service career or subsequent to his/her superannuation. ii. No disciplinary /criminal judicial proceedings are contemplated/ pending subsequent to his/her superannuation from the service. 6. Other Conditions and Declaration-cum-Undertaking: A. In addition to the above eligibility criteria, the following are the other conditions to be fulfilled by applicant: i. The applicant is an individual/sole-proprietor/all partners/all directors is a citizen in India/the entity is a body corporate registered in India. ii.

her conditions to be fulfilled by applicant: i. The applicant is an individual/sole-proprietor/all partners/all directors is a citizen in India/the entity is a body corporate registered in India. ii. The applicant has a clean track record in as much as (a) They have not been removed / dismissed from valuation related service / previous employment earlier applicant (b) The applicant has not been found guilty of misconduct in professional capacity. (c) The applicant has not been convicted of any offence and sentenced to a term of imprisonment (d) The applicant has not been convicted of an offence connected with any proceeding under the Customs Act, 1962, Central Excise Act, 1944, Service Tax and GST provisions. (e) The applicant has no complaints registered against him/it with CBI and/or police and/or court of law I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

(f) The Expert Panel Valuer is not an undischarged insolvent. iii. The applicant/ firm and all the Partners of the firm and, the Company and all the directors of the company shall each possess PAN Card. iv. The applicant shall submit Goods and Services Tax Registration Number (if available). v. The applicant shall comply with the guidelines, standards and procedures, and abide by the code of conduct prescribed and as amended by the Department from time to time. vi. The applicant shall act with independence, integrity and objectivity; shall undertake all valuation works with an independent mind and shall not come under any influence of anybody. vii.

to time. vi. The applicant shall act with independence, integrity and objectivity; shall undertake all valuation works with an independent mind and shall not come under any influence of anybody. vii. The applicant shall not undertake valuation of any goods that may be assigned to him/it from time to time in which he/the firm/the company/any of the partners/any of the directors/any of his/its employees have direct or indirect interest in the goods being valued. viii. The applicant shall complete the assignment of valuation and submit duly signed Valuation Report within the timeframe stipulated by the Department. ix. The applicant shall not conceal or suppress any material information and facts prejudicial to the interest of the Department and shall make a complete and full disclosure at the time of application for appointment, and should disclose immediately to the Department any such developments that may take place during the tenure of his/its empanelment with the Department. x. The applicant shall keep the Department informed immediately of any happenings or events that would make him/it ineligible for appointment. xi. For any negligence, lapses, professional misconduct and/or unfair practices resorted to by applicant whether with the Department and/or other institutions; his/its appointment with the Department will stand cancelled without further reference. B. The above conditions apply to the individual, proprietor in case of sole proprietary concern, all individual partners and firm in case of partnership/ firm, all directors and company in case of company. C.

ove conditions apply to the individual, proprietor in case of sole proprietary concern, all individual partners and firm in case of partnership/ firm, all directors and company in case of company. C. Applicant shall submit to the Department declaration-cum undertaking to the above effect duly executed on non-judicial stamp paper of requisite value [individual/sole- proprietor / all partners of the firm all directors of the company in both representative and personal capacity at the time of his/its appointment. 7. CODE OF CONDUCT FOR EXPERT PANEL VALUER: All Expert Panel Valuers appointed with department shall strictly adhere to the following code of conduct. I. Integrity and Fairness: i. The Expert Panel Valuer shall, in the conduct of his/her/ its business, follow high standards of integrity and fairness in all his/its dealings with Department and other Expert Panel Valuers. I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

ii. The Expert Panel Valuer shall maintain integrity by being honest, straightforward, and forthright in all professional relationships. iii. The Expert Panel Valuer shall endeavour to ensure that he/she provides true and adequate information and shall not misrepresent any facts or situations. iv. The Expert Panel Valuer shall refrain from being involved in any action that would bring disrepute to the profession. v. The Expert Panel Valuer shall keep public interest foremost while delivering his services. II. Professional Competence and Due Care: i.

in any action that would bring disrepute to the profession. v. The Expert Panel Valuer shall keep public interest foremost while delivering his services. II. Professional Competence and Due Care: i. The Expert Panel Valuer shall render at all times high standards of service, exercise due diligence, ensure proper care and exercise independent professional judgment. ii. The Expert Panel Valuer shall carry out professional services in accordance with the relevant technical and professional standards that may be specified from time to time. iii. The Expert Panel Valuer continuously maintain professional knowledge and skill to provide competent professional service based on up-to date developments in practice, prevailing regulations/guidelines and techniques. iv. In the preparation of a valuation report, the Expert Panel Valuer shall not disclaim liability for his/its expertise or deny his/its duty of care, except to the extent that the assumptions are based on statements of fact provided by the company or its auditors or consultants or information available in public domain and not generated by the Expert Panel Valuer. v. The Expert Panel Valuer shall not carry out any instruction of the client in so far as they are incompatible with the requirements of integrity, objectivity and independence. vi. The Expert Panel Valuer shall not deploy any person other than notified by Department to conduct any Inspection/Valuation. Deploying persons other than those listed/appointed by the department will be considered as a case of mis-conduct. III.

y person other than notified by Department to conduct any Inspection/Valuation. Deploying persons other than those listed/appointed by the department will be considered as a case of mis-conduct. III. Independence and Disclosure of Interest: i. The Expert Panel Valuer shall act with objectivity in his/its professional dealings. by ensuring that his/its decisions are made without the presence of any bias, conflict of interest, coercion, or undue influence of any party, whether directly connected to the valuation assignment or not. ii. The Expert Panel Valuer shall not take up an assignment if he/it or any of his/its relatives or associates is not independent in terms of association to the company. iii. The Expert Panel Valuer wherever necessary shall disclose to the clients, possible sources of conflicts of duties and interests, while providing unbiased services. iv. The Expert Panel Valuer shall not list or divulge to other clients or any other party any confidential information about the subject client /company, which has come to his/its knowledge without proper and specific authority or unless there is a legal or professional right or duty to disclose. IV. Information Management: I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

proper and specific authority or unless there is a legal or professional right or duty to disclose. IV. Information Management: I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

i. The Expert Panel Valuer shall ensure that he/she submits records for any decision taken, the reasons for taking the decision, and the information and evidence in support of such decision. This shall be maintained so as to sufficiently enable a reasonable person to take a view on the appropriateness of his/its decisions and actions. ii. The Expert Panel Valuer appear, co-operate and should be available for inspections and investigations carried out by the authority, any person authorised by the authority. iii. The Expert Panel Valuer provide all information and records as may be required by the authority, the Commissioner (Appeals), Appellate Tribunal etc. V. Gifts and hospitality: i. The Expert Panel Valuer or his/its relative shall not accept gifts or hospitality which undermines or affects his independence as Expert Panel Valuer. ii. The Expert Panel Valuer shall not offer gifts or hospitality (or a financial or any other advantage) to a public servant or any other person with a view to obtain or retain work for himself/itself, or to obtain or to retain an advantage in the conduct of profession for himself/ itself. VI. Remuneration and Costs: i. All services rendered by the Expert Panel Valuer shall be on a purely voluntary basis. No remuneration or service fees shall be payable by the Department. The Department bears no liability for any claims in this regard.

d by the Expert Panel Valuer shall be on a purely voluntary basis. No remuneration or service fees shall be payable by the Department. The Department bears no liability for any claims in this regard. The Expert Panel Valuer shall function in an advisory capacity only and the final decision shall rest with the Customs Officer. VII. Occupation, employability and restrictions: i. The Expert Panel Valuer shall refrain from accepting too many assignments, if he/she is unlikely to be able to devote adequate time to each of his/her assignments. VIII. Negligence and Professional Misconduct by appointed Expert Panel Valuer: i. Sincerity and honesty apart, the Expert Panel Valuer should be guided by the quality of diligence in inspecting the goods presented in detail and investigate, inspect and analyse it accordingly. He/it should take reasonable care in arriving at the valuation of the item entrusted. ii. The Expert Panel Valuer may be charged for negligence if he/she/it disregards the following: (a) Market value of the item. (b) Inadequate physical inspection of the item. (c) Constitution/composition/ingredients of the item etc. iii. Lapse on part of Expert Panel Valuer may include conspiracy with importer/exporter in undervaluation/overvaluation, incomplete, false and/or misleading report on the goods being valued. 8. DEPANELMENT: For any professional misconduct of Expert Panel Valuer and/or where the Revenue suffers loss due to any negligence and/or lapses on the part of Expert Panel Valuer, it I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

t Panel Valuer and/or where the Revenue suffers loss due to any negligence and/or lapses on the part of Expert Panel Valuer, it I/(22)/OTH/3629/2022-PCCCC-IMP-CUS-APSC-ZONE-III-MUMBAI I/3284285/2025

will initiate such action against him/it as deemed necessary. Keeping in view the gravity of the lapses and/or misconduct, the department may take following action(s): i. Removal of Expert Panel Valuer's name from its panel after giving him/her/it an opportunity of being heard followed by a written communication to that effect. ii. Initiation of legal proceedings, including filing of FIR, criminal complaint before Court. iii. Inform related professional bodies and institutions regarding misconduct of Expert Panel Valuer. This Annexure forms integral part of the appointment terms and conditions.

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