Customs valuation inclusion of royalties: royalty and license payments must be added to import value so duty is assessed accordingly. Royalties and license fees required to be paid in connection with imported cinematographic films must be added to the price actually paid or payable under the Customs Valuation Rules, 1988, where such payments are not already included, so that Customs duty is levied on the intrinsic value of the films inclusive of related royalty/license payments; the earlier notification limiting duty to the cost of the print plus freight and insurance has been rescinded, and assessing officers are to apply this valuation treatment.
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.
Customs valuation inclusion of royalties: royalty and license payments must be added to import value so duty is assessed accordingly.
Royalties and license fees required to be paid in connection with imported cinematographic films must be added to the price actually paid or payable under the Customs Valuation Rules, 1988, where such payments are not already included, so that Customs duty is levied on the intrinsic value of the films inclusive of related royalty/license payments; the earlier notification limiting duty to the cost of the print plus freight and insurance has been rescinded, and assessing officers are to apply this valuation treatment.
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