The Full Form of NIDB is National Import Database.
National Imports Database is an analytical tool designed and developed by C-DAC for Directorate General of Valuation, Mumbai. Customs valuation is a customs procedure applied to determine the customs value of imported goods. As the rate of duty is in proportion to the transaction value, the customs value is essential to determine the duty to be paid on imported goods.
As the importers often undervalue the goods to lessen the amount of imports duty, NIDB2 provides a way to find these undervalued goods. NIDB2 analyzes the imports data statistically and gives an estimate of price of imported item as per “Transaction Value of identical goods” method. This estimated price is used by customs officers to determine if imported goods are undervalued or not.
NIDB2 also generates various statistical and analytical reports.
NIDB
means
National Import Database
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