Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

if percentage of high sea sale is high.

Customs - Started By: - prem abhishek tayal - Dated:- 15-5-2015 Last Replied Date:- 19-5-2015 - dear sir, i want to ask you my friend is importing knitting machine from china. and he sold the machine on high sea sale basis against epcg, by adding 50-60% from actual value. the custom officer is not allowing that coz of high percentage. so is there any thing written in custom rules that he cant do this. i think minimum is 2%. so what can he do. and what type of action they can do. - Reply .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d form the assessable value and not the invoice issued to the importer by foreign supplier. If the purchase is on High Seas, the selling price will be naturally higher than the price at which the original buyer imported the goods. However, even if price is lower, the duty will be payable on price at which goods are sold on high sea basis to final importer. Original price at which original buyer purchased the goods cannot be the basis for valuation. CBEC vide Circular No. 32/2004-Cus. Dated 11-05 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version