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of <h1>New Export Duty Calculation Method for Steel u/s 14, Effective January 2009; Feedback Due by November 20, 2008.</h1> The circular addresses the computation of export duty value under Section 14 of the Customs Act, following the introduction of ad valorem export duty on steel in May 2008. Historically, export duty was calculated using the FOB price as the cum-duty price, a practice consistent with the Board's instructions since 1966. Despite amendments in 2007, this method remains unchanged. However, starting January 1, 2009, the export duty will be calculated based on the transaction value, specifically the FOB price at exportation. The circular calls for feedback on potential implementation difficulties by November 20, 2008.
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