Valuation of second-hand machinery: importer must obtain certified Chartered Engineer valuation; customs may re-determine declared value. Imported second-hand machinery must be accompanied by an independent Chartered Engineer or equivalent certificate detailing new-machine price at manufacture year, current CIF of a new machine, manufacture year, supplier sale price, present condition, reconditioning/repair works and costs, and expected residual life. Where no load-port certificate exists, a certificate from a Ministry-recognized Chartered Engineer/Inspection and Certification Agency listed in FTP Appendix 5 or the empanelled local agencies is acceptable. Local inspections must be supervised and countersigned by an Import Shed Appraising Officer/Superintendent; only such attested certificates will be accepted, and the Assessing Officer will evaluate documents and NIDB data to accept or re-determine value under Rule 12 of the Customs Valuation Rules, 2007.
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.
Valuation of second-hand machinery: importer must obtain certified Chartered Engineer valuation; customs may re-determine declared value.
Imported second-hand machinery must be accompanied by an independent Chartered Engineer or equivalent certificate detailing new-machine price at manufacture year, current CIF of a new machine, manufacture year, supplier sale price, present condition, reconditioning/repair works and costs, and expected residual life. Where no load-port certificate exists, a certificate from a Ministry-recognized Chartered Engineer/Inspection and Certification Agency listed in FTP Appendix 5 or the empanelled local agencies is acceptable. Local inspections must be supervised and countersigned by an Import Shed Appraising Officer/Superintendent; only such attested certificates will be accepted, and the Assessing Officer will evaluate documents and NIDB data to accept or re-determine value under Rule 12 of the Customs Valuation Rules, 2007.
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