High seas sale valuation: actual contract price governs when it exceeds CIF plus standard high seas sales charges. Where a sale on the high seas determines transaction value, declared high-seas-sales charges are added to CIF; actual declared charges must be added when they exceed the standard assumed charge. If the actual sale contract price paid or payable by the high-seas-sales-buyer is known and exceeds the CIF value plus the standard high-seas-sales charges, that actual contract price shall be taken as the value for duty assessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
High seas sale valuation: actual contract price governs when it exceeds CIF plus standard high seas sales charges.
Where a sale on the high seas determines transaction value, declared high-seas-sales charges are added to CIF; actual declared charges must be added when they exceed the standard assumed charge. If the actual sale contract price paid or payable by the high-seas-sales-buyer is known and exceeds the CIF value plus the standard high-seas-sales charges, that actual contract price shall be taken as the value for duty assessment.
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