Customs valuation: imported goods value linked to declared retail sale price less permitted government abatement. The Bill deems the value of certain imported articles to be the retail sale price declared on the imported article, less any abatement the Central ... Summary
Customs valuation: imported goods value linked to declared retail sale price less permitted government abatement.
The Bill deems the value of certain imported articles to be the retail sale price declared on the imported article, less any abatement the Central Government may allow by notification, where the like article is produced in India or not produced and the article class requires retail sale price declaration under the Standards of Weights and Measures Act or is specified under the Medicinal and Toilet Preparations schedule explanation; it also amends the First Schedule to alter tariff item entries as set out in the Bill's Third Schedule.
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