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of <h1>Customs Tariff Rules, 2011: Calculating Qualifying Value Content for India-Japan Economic Partnership Agreement Explained</h1> The Customs Tariff Rules, 2011, outline the calculation of qualifying value content (Q.V.C.) for goods under the Comprehensive Economic Partnership Agreement between India and Japan. Q.V.C. is determined using one of two formulas: (a) subtracting the value of non-originating materials (V.N.M.) from the free-on-board (F.O.B.) value, or (b) summing the value of originating materials (V.O.M.), direct labor, overhead costs, and profit, then dividing by F.O.B. value. F.O.B. value is defined based on the buyer's payment to the seller, adjusted prices, or customs valuation. The rules also specify how to determine the value of materials used in production.
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