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Valuation of imported second sand machinery and requirement of various documents

..... 13/Gr-V/Pt-I/NCH Date: 27.02.2020 PUBLIC NOTICE NO. 14/2019-20 Sub: Attention of all members of Trade, Customs Brokers is invited to Board Circular No. 07/2020-Customs dated 05.02.2020 issued vide F.No. 467/34/2006-Cus.V regarding Valuation of second sand machinery, which is reproduced below: Representations have been received from the trade regarding Circular No. 25/2015 -Customs dated 15th October, 2015 on valuation of second hand machinery. For this purpose, the circular requires customs to rely upon inspection report either issued at the port of loading by overseas Chartered Engineer or issued upon import by a pre-shipment inspection agency (PSIA) notified by DGFT. or by a chartered engineer empanelled by the Custom House where the DGFT .....

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..... importation into India. In such situations, there is a change in the condition of the goods brought about prior to their importation. Similarly, other costs such pre-shipment inspection, dismantling and crating charges may be incurred by the buyer after the sale of the goods. Costs of all such elements need to be determined for the purpose of arriving at the value under section 14 of the Customs Act. Thus, there may be instances where the requirements of Rule 3 of the Valuation Rules are not met, in which case, the value for imposition of duty must be determined under one of the subsequent methods of valuation applied in sequential order. 4.3 In view of the nature of goods, there may be certain difficulties in applying Rule 4 or 5 of the CV .....

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..... by way of pre-shipment inspection agency charges etc. 4.7 Given the nature of challenges in computing the value of second hand machinery under Rule 9, and the need to ensure that the approach applied reflects commercial reality and results in a value which is fair, and is arrived through uniform processes by all Custom Houses, it is felt that it is necessary to obtain inspection/appraisement reports from qualified neutral parties. 4.8 For this purpose, the Board has decided that Inspection/Appraisement Reports issued by Chartered Engineers, or their equivalent, based in the country of sale of the second hand machinery shall be accepted by all Custom Houses. For the purposes of uniformity, the format in which inspection/appraisement reports .....

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..... for being empanelled as a Chartered Engineer for valuation of second hand machinery may make an application to the respective Customs House for consideration of empanelment. 6. To sum up, the following guidelines shall be followed: (a) All imports of second hand machinery/used capital goods shall be ordinarily accompanied by an inspection/appraisement report issued by an overseas Chartered Engineer or equivalent, prepared upon examination of the goods at the place of sale. (b) The report of the overseas chartered engineer or equivalent should be as per the Form A annexed to this circular. (c) In the event of the importer failing to procure an overseas report of inspection/appraisement of the goods, he may have the goods inspected by any one .....

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