Customs Valuation (Determination of value of imported goods) Rules, 2007- Instructions

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..... on (Determination of value of imported goods) Rules, 2007- Instructions regarding. Attention of all Importers. Exporters, CHAs, members of Trade and all other concerned is invited to the section 95 of the Finance Act, 2007 which substitutes the existing section 14 of the Customs Act, 1962. The new section 14 of the Customs Act, 1962 has come into force with effect from 10-10-2007 in terms of Noti .....

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..... ) concerning identical goods and similar goods respectively, to the effect that the value of the goods provisionally assessed under Section 18 of the Customs Act, 1962, shall not be the basis for determining the value of any other goods. (iii) In the residual method of Valuation, which has been renumbered as Rule 9 (erstwhile Rule 8), a proviso has been added with a view to keeping Rule 9 in lin .....

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..... Court judgement in the case of J.K. Corporation Ltd. Versus Commissioner of Customs (Port) Kolkata [2007 (208) ELT 485 (SC)] so as to clarify that such royalty, license fee, etc., if otherwise includible in terms of clauses (c) or (e) of Rule 10, will be includible in the value of the goods irrespective of the fact that such royalty, licence fee, etc., relates to a process which is made operationa .....

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..... if they are consumed before reaching the landmass of India, the place of consumption. Therefore, in cases where ship demurrage charges are paid by the importer for detention of the ship in the harbour before touching the landmass at the docks or at the place of consumption, these charges would be includible in the cost of transportation. Similarly, in cases where the big mother vessels cannot ent .....

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..... nsultation with the importer, the declared value shall be accepted. This Explanation also gives certain illustrative reasons which could form the basis for having doubt about the truth or accuracy of the declared value. Any problems faced in implementation of this Public Notice may be brought to the notice of the undersigned immediately. (ARUN TANDON) COMMISSIONER OF CUSTOMS (IMPORT), JAWARARL .....

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