Board Notification No. 91/2017-Customs (N.T) dated 26.09.2017 and Circular No.39/2017 -Customs dated 26.09.2017 on the amendment of Customs Valuation (Determination of value of imported goods) Rules
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Place of importation definition clarified; transaction value to include costs up to place of importation and documents required. The Rules define 'place of importation' as the customs station where goods are brought for clearance for home consumption or removal to warehouse, and stipulate that the transaction value under section 14 of the Customs Act includes costs incurred up to the place of importation; all relevant documents evidencing such costs must be submitted before cargo clearance.
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Place of importation definition clarified; transaction value to include costs up to place of importation and documents required.
The Rules define "place of importation" as the customs station where goods are brought for clearance for home consumption or removal to warehouse, and stipulate that the transaction value under section 14 of the Customs Act includes costs incurred up to the place of importation; all relevant documents evidencing such costs must be submitted before cargo clearance.
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