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TMI Blog2016 (9) TMI 361X X X X Extracts X X X X X X X X Extracts X X X X ..... dcasting companies for conducting sports and entertainment related events. The applicant wishes to provide outdoor broadcast related production services, which will include provision of production and such other associated services relating to broadcast of events ("programme production services"). 2. Applicant proposes to procure and import various technical equipment, inter alia, including video cameras, camera lenses, audio and video cables and other supporting parts of the broadcasting equipment ("Broadcasting Equipment") classifiable under Chapter 85 or Chapter 90 of First Schedule of the Customs Tariff Act, 1975 on lease from various vendors. Applicant proposes to procure and import the said Broadcasting Equipment, inter alia, in the following manner:- a Model A: In terms of Model A, the applicant will be taking the said Broadcasting Equipment from BS on lease basis. BS itself has a repository of equipment of various specifications which have been procured from manufacturers throughout the globe and are owned by BS. The said equipment are usually discontinued models of the camera and other broadcasting relating tools purchased by BS from various manufacturers; b. Model B: U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xtended provided; i. The importer should have taken the goods on lease; ii. The importer makes a declaration that the goods are imported temporarily for execution of a contract; iii. The goods imported in terms of the exemption are re-exported within three months from the date of import or within an extended period but not exceeding 18 months from the date of the said import with appropriate permission from the Deputy/Assistant Commissioner of Customs; iv. Where extension is granted by Deputy / Assistant Commissioner of Customs for re-export, the importer shall pay the differential duty; and v. Importer will undertake to re-export said goods within 3 months of date of import or such extended time; to produce the said goods for identification before re-export before Deputy/Assistant Commissioner of Customs and to pay balance duty along with interest, if said goods are not re-exported within the stipulated period. 7. Applicant submits that he would be satisfying all the conditions of Notification No. 27/2008-Cus dated 01.03.2008, as amended, therefore they are eligible to claim benefit of same. Revenue also has no objection. We have examined the provision of said notificat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rpose of Customs Valuation. Depreciated Value of the said Broadcasting Equipment can be adopted for Customs Valuation 10. Further, applicant submits that in any event and without prejudice to the aforementioned, the depreciated value of the said Broadcasting Equipment can be adopted for the purpose of Customs Valuation. In this regard, applicant refers to the Circular No. 4/2008 dated 12.02.2008 issued by the Central Board of Excise and Customs, wherein, it is clarified that where the Transaction Value is rejected, in the case of a second-hand machinery, valuation can be done on the basis of value of the new machine, as certified by the Chartered Engineer and scaled down by allowing depreciation commensurate with the period of usage; that in the present case, in the event that the Transaction Value viz. the invoice value is not accepted, the value of the said Broadcasting Equipment can be made by allowing the depreciation in terms of the period of usage of the said equipment; that higher rate of depreciation should be available in earlier years as compared to the methodology of charging depreciation on equipments as per CBEC Circular F.No.493/124/86-Cus VI dated 19.11.1987; that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to FTP 2015-20, as amended from time to time (para 2.59 of Handbook of Procedures 2015-20 refers). (d) At the customs stations where agencies notified by DGFT are not present, importers may continue to avail of the services of locally empanelled chartered engineers. (e) In cases where the report is to be prepared by the agencies in India notified by DGFT or the chartered engineers empanelled by Custom House, the same shall be in the Form B annexed to this circular. (f) The value declared by the importer shall be examined with respect to the report of the chartered engineer. Similarly, the declared value shall be examined with respect to the depreciated value of the goods determined in terms of the Circular No. 493/124/86-Cus VI, dated 19-11-1987[ 2014(300) E.L.T. (T5) and dated 4.1.1988 [2008 (222) E.L.T. (T15)]. If such comparison does not create any doubt regarding the declared value of the goods, the same may be appraised under Rule 3 of the CLVLR, 2007. If there are significant differences arising from such comparison, Rule 12 of the CVR, 2007 requires that the proper officer shall seek an explanation from the importer justifying the declared value. The proper officer m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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