Amendment to Customs Valuation Rules - Notification No. 91/2017 (NT) dated 26.9.17

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..... ms Valuation Rules - Notification No. 91/2017 (NT) dated 26.9.17 -reg. Attention of all Customs Brokers, Exporters, Importers, Members of the Trade and other stake holders is invited to Board's Circular No. 39/2017 -Customs dated 26.09.2017 regarding amendment to Customs Valuation Rules vide Notification No. 91/2017 (NT) dated 26.9.17. 2. The valuation of imported and export goods is govern .....

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..... used in the CVR; however, the term was not 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" 4.1 In view of the above definition, the transaction value of the imported goods in .....

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..... handling charges" appearing in the amended Rule 10 (2) (a) is to be understood in context of Article 8(2) of the WTO Agreement which reads as "the cost of transport of the imported goods 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) sha .....

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