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of <h1>New Guidelines for Valuing Imported Second-Hand Machinery: Inspection Reports Required from Overseas Engineers or Notified Agencies.</h1> The circular from the Customs Office in Kandla outlines updated guidelines for valuing imported second-hand machinery. Importers must provide inspection or appraisement reports from overseas Chartered Engineers or equivalent, prepared at the place of sale. If unavailable, reports can be obtained from agencies notified by the Directorate General of Foreign Trade (DGFT). The declared value will be compared with the report and depreciated value. Any discrepancies will require justification from the importer, with further evaluation by customs officers. These guidelines are effective immediately and must be widely publicized among trade associations and customs brokers.
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