My query is one of the importer imported goods i.e automated data processing machine with assessable value is ₹ 1 Cr and he paid Zero BCD and 18 % IGST on the goods. But on the packing list the MRP is written as 2.1 Cr during the import.
My question is whether there is any violation of Customs Valuation Rule in this transaction?
Whether there is any rule differentiating between transaction value and MRP?
The imported goods to ready to use goods. Please guide.
Importer Faces Queries Over Valuation of Automated Data Machines, Clarifies Compliance with Customs Valuation Rules and IGST. An importer brought in automated data processing machines with an assessable value of 1 crore, paying zero Basic Customs Duty (BCD) and 18% Integrated Goods and Services Tax (IGST). However, the Maximum Retail Price (MRP) on the packing list was 2.1 crore. The query raised concerns about potential violations of Customs Valuation Rules and differences between transaction value and MRP. One response clarified that if transactions are not influenced by related parties, the transaction value is valid, and IGST is not based on MRP. Another response suggested correcting any incorrect MRP labeling while goods are still under customs control. (AI Summary)
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