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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Customs Duty on Bulk Liquid Cargo: Use Invoice Price for Ad-Valorem Duties; Shore Tank for Specific Rate Duties.</h1> The circular addresses the assessment of bulk liquid cargo for customs duty, clarifying that when duty is ad-valorem, the invoice price (transaction value) should be used, regardless of the quantity measured by shore tank or other methods. For duties levied at a specific rate, the quantity determined by shore tank measurements is relevant. The circular amends previous guidelines, emphasizing that the transaction value is the basis for ad-valorem assessments, and instructs that pending assessments be finalized accordingly. It also provides guidance on apportioning value for deliveries at multiple ports based on intended discharge quantities.
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