(1) For the purpose of evaluating the vehicles and means of transportation registered in the customs office, the goods to be auctioned according to this regulation and the goods according to sub-section (3) of section 71 of the Act, there will be an evaluation committee as follows:-
(a) The head of the customs office or the person designated to perform his duties in his absence - coordinator
(b) Representative of concerned District Administration Office – Member
(c) Representative of the concerned Industry and Commerce Association – Member
(D) Representative of the relevant Fund and Accounts Controller Office - Member (e) Mechanical Technician in case of vehicles and means of transport – Member
(2) While fixing the price of the goods, the committee according to sub-rule (1) shall also consider the physical condition of the goods, local demand, utility, usable period, depreciation, residual value and market value. While fixing the price of goods purchased in accordance with clause (b) of sub-section (15) of section 13 of the Act, the price paid for the purchase of the goods, the customs duty levied on importation of the goods and the market value of the goods shall also be considered.
(2a) Notwithstanding anything written in sub-rule (1), except for vehicles and means of transport which are registered at the customs office and are to be auctioned in accordance with this rule, the goods up to the value of one hundred and fifty thousand rupees shall be auctioned subject to the conditions for maintaining the price as per sub-rule (2). However, the customs officer can fix the price directly. If the customs officer finds that the reported value of the goods is abnormally high when the goods are submitted for auction purposes at the customs office, the valuation committee under sub-rule (1) will fix the initial price and auction the goods.
(3) The evaluation committee as per sub-rule (1) may also invite other persons to the meeting of the committee if it deems it necessary.
(4) If the coordinator and two other members are present at the meeting of the committee according to sub-rule (1), it will be considered that the quorum has been reached and the decision of the majority will be valid.
(5) According to this rule, the meeting allowance shall be provided to the person who participates in the meeting of the committee as prescribed by the Ministry of Finance.