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Fixation of Tariff Value under Section 14(2) of the Customs Act, 1962 on Crude Palm Oil, RBD Palm Oil, RBD Palmolein, Crude Palmolein & Brass Scrap (all grades)
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Tariff value fixation under Section 14(2) mandates prescribed valuation for listed imports and governs customs duty calculation. Fixation of Tariff Value under Section 14(2) prescribes dollar-per-metric-ton values for specified palm oils and brass scrap, mandates use of those tariff values instead of transaction-based valuation, and requires that ad valorem duty be levied on the tariff value without additions; the tariff value applicable to bonded-warehouse clearances is the value in force on the date of actual removal.
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Tariff value fixation under Section 14(2) mandates prescribed valuation for listed imports and governs customs duty calculation.
Fixation of Tariff Value under Section 14(2) prescribes dollar-per-metric-ton values for specified palm oils and brass scrap, mandates use of those tariff values instead of transaction-based valuation, and requires that ad valorem duty be levied on the tariff value without additions; the tariff value applicable to bonded-warehouse clearances is the value in force on the date of actual removal.
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