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of <h1>Customs Duty on Imported Garments Now Based on 60% of MRP, Ensures Uniformity Under Customs Tariff Act, 1975.</h1> The circular clarifies the basis for levying additional Customs duty (CVD) on imported readymade garments. Previously, CVD was assessed based on transaction value, including the C.I.F. price and landing charges. However, due to amendments in Section 3(2) of the Customs Tariff Act, 1975, and related provisions, the duty is now based on the Maximum Retail Price (M.R.P.) or Retail Sale Price (R.S.P.). The government has set a tariff value at 60% of the MRP for packaged garments under Chapters 61 and 62. This change ensures uniformity in CVD assessment for imported apparel.
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