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TMI BlogClarification relating to import of GiftsX X X X Extracts X X X X X X X X Extracts X X X X ..... reg. Attention of all Customs Brokers, Importers, all ICEGATE community partners, other stake holders and members of the Trade is invited to the Notification No. 35/2015-2020 dated 12.12.2019 (Annexure-I), issued by the Directorate General of Foreign Trade, Department of Commerce, Ministry of Commerce and Industry. 2. The said DGFT notification reads as follows: import of goods, incl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 50/2017-Customs dated 30th June 2017, then the imports will be prohibited. However, the goods imported as gifts can be allowed import free (i.e. without prohibition) on payment of full applicable duties. Since the goods imported as gifts would be personal imports, the full applicable duties will be as follows:- (a) Basic Customs Duty at applicable tariff rate as per the First schedule of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tate that Board has earlier issued Instruction No. 9/2017-Customs dated 5th July, 2017 to clarify the application of clause 3(1) (i) of Foreign Trade (Exemption from application of Rules in certain cases) Order 1993 ('FTO, 1993' for shot) which put a restriction on personal imports above a C.I.F value of ₹ 2000/-. 5.1 The PTO, 1993 has since been amended vide issue of Foreign Tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me obsolete and have been rescinded by CBIC. 7. To curb the undervaluation being done by unscrupulous importer S' officers are advised to strictly follow the provisions of Section 14 of the Customs Act, 1962 read with Customs Valuation (Determination Of Value of Imported Goods) Rules, 2017 for valuation of imports through courier and posts. 8. All trade associations/ members of Customs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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