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Issue ID : 119665
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customs implication on transfer pricing adjustment india

Date 28 Feb 2025
Replies1 Answers
Views 371 Views
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What are the customs implications of the price paid to a foreign entity from which goods are imported, in the event of a retrospective transfer pricing adjustment at year-end? Do we need to pay customs duty.

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Replied on Feb 28, 2025
1.

It will have an impact on your SVB Assessment, if you are dealing with Related Parties as mentioned in Customs Circular No. 05/2016-Customs. You need to disclose this new development to the jurisdictional customs Authorities with whom your SVB Assessment is being conducted/or already done.  In this matter, please do contact with your Customs Broker who in-turn have discussions with the Jurisdictional Customs Authorities to conclude the impact on valuation of the goods which had been imported by your Company.

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