Request for comments of Trade and Industries on the proposal to modify the present abatement rates for products assessed under Section 4A (RSP based assessment).
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RSP based assessment: proposal to reduce abatement rates to align assessable value with actual transaction value, seek industry comments. A departmental study found that for certain product categories the assessable value under RSP based assessment is lower than transaction value in most cases, prompting a proposal to reduce abatement rates to align RSP based assessable value with transaction value. Trade and industry associations are invited to submit data and documentary evidence of actual transaction values (excluding taxes and duties) or depot invoices for high volume products to support representations; responses and spreadsheets should be sent to designated officials and Chief Commissioners will notify manufacturers.
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RSP based assessment: proposal to reduce abatement rates to align assessable value with actual transaction value, seek industry comments.
A departmental study found that for certain product categories the assessable value under RSP based assessment is lower than transaction value in most cases, prompting a proposal to reduce abatement rates to align RSP based assessable value with transaction value. Trade and industry associations are invited to submit data and documentary evidence of actual transaction values (excluding taxes and duties) or depot invoices for high volume products to support representations; responses and spreadsheets should be sent to designated officials and Chief Commissioners will notify manufacturers.
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