9911796707
TMI BlogAmendment to Customs Valuation Rules - Notification No. 91/2017 (NT) dated 26.9.17X X X X Extracts X X X X X X X X Extracts X X X X ..... 40/2017 SUB : Amendment to Customs Valuation Rules - Notification No. 91/2017 (NT) dated 26.9.17 -reg. Attention of the Exporters, Importer.sl Custom Brokers, Trade and Public and all concerned are invited to the Board Circular 39/2017-Custorns, dated 26th September 2017 on the above mentioned subject. 2. The valuation of imported and export goods is governed by the provisions of Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... defined. To bring in clarity, the place of importation has been defined as: place of Importation means the customs station where the goods are brought for being cleared for home consumption or for being removed for deposit in a warehouse 4.2 In view of the above definition, the transaction value of the imported goods in terms of section 14 of the Customs Act, 1962 would include the costs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e understood in context of Article 8(2) of the WTO Agreement which reads as the cost of transport of the imported goods to the port or place of importation . Thus; only charges incurred for delivery of goods to the Place of importation (such as the loading and handling charges incurred at the load port) shall he included in the transaction value. Computation of freight and insurance:- ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
