The SVB is a unit of the Indian custom authorities that investigates valuation of goods during imports between related parties. A special relationship between Indian importer and foreign supplier may impact the transaction price of the import and thereby affect the custom duty imposed on such transaction. SVB function is precisely to examine the impact of such relationship on the invoice value of the imported goods.

SVB examines the influence of relationship on the invoice value of the imported goods in respect of transactions between related parties. In respect of Technical Collaboration Agreements and Joint Venture Agreements, the terms and conditions of these agreements are examined to arrive at the conclusion, whether the existence of such agreement has influenced the invoice value of the imports.

Who should register with SVB?

• They are officers or directors of one another's businesses
• They are legally recognized partners in business;
• They are employer and employee;
• Any person directly or indirectly owns, controls or holds 5 per cent or more of the outstanding voting stock or shares of both of them;
• One of them directly or indirectly controls the other;
• Both of them are directly or indirectly controlled by a third person;
• Together they directly or indirectly control a third person;
• They are members of the same family.