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of <h1>New Guidelines for Valuing Imported Second-Hand Machinery in India, Referencing Customs Valuation Rules 2007, Rule 9 Explained.</h1> The circular outlines revised guidelines for valuing second-hand machinery imported into India, superseding earlier directives. It emphasizes using the transaction value as per Customs Valuation Rules 2007, but outlines alternative valuation methods if pre-import modifications or additional costs are involved. Challenges in applying certain rules due to the nature of used machinery are acknowledged, and a residual method under Rule 9 is suggested. Inspection reports from Chartered Engineers in the country of sale are mandated for uniformity, with specific agencies in India designated for this purpose. Importers must comply with these guidelines, ensuring declared values align with assessed values.
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