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of <h1>Customs Valuation: High Seas Sale Price Confirmed; 1964 Guidelines Withdrawn; Clarification on Rule 5 Service Charges.</h1> The circular addresses the customs valuation of goods sold on high seas, reaffirming that using the sale price at high seas for valuation aligns with the GATT Valuation Code. It confirms that previous instructions from November 1988 remain valid, while earlier guidelines from September 1964 are withdrawn. Additionally, it clarifies that service charges incurred by the State Trading Corporation of India Ltd. are not to be included as expenses under Rule 5 of the Customs Valuation Rules, 1963, as these charges do not qualify as expenses incurred by importers or the corporation in their roles as sole agents or distributors.
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