customs valuation of free of charge import from related party as per GATT valuation rules

[Ketan bhinde]

We have done search on this subject,but unable to find answer.We looking for customs rules or notifications or circulars  and  case laws  also or any other valid documents regarding the rules for valuation of imported goods supplied free of charge by the related party suppliers.

[MAHESHKUMAR SREERAMULU]

Goods imported from related persons have to be valued as per computed value method given under customs (import) valuation rules. 

[Ketan bhinde]

Could u pls expedite reply

 

AI Summary

Computed value method applies to free of charge imports from related parties under customs valuation rules per GATT principles. Goods supplied free of charge by related parties for importation are to be valued under the customs import valuation framework using the computed value method consistent with GATT valuation principles, calculating value from producer cost plus amounts for profit and general expenses when transaction value from a related person is not relied upon.