TaxTMI 
TaxTMI 
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.
customs implication on transfer pricing adjustment india
28 Feb 2025 
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Customs valuation impact: disclose retrospective transfer pricing adjustments to enable reassessment of dutiable value and liability.
Retrospective transfer pricing adjustments to prices paid to foreign related parties can affect customs valuation and Special Valuation Branch (SVB) assessments; taxpayers must disclose such developments to the jurisdictional customs authorities and consult their customs broker so the customs office can determine whether the declared dutiable value and customs liability require reassessment. (AI Summary)
Retrospective transfer pricing adjustments to prices paid to foreign related parties can affect customs valuation and Special Valuation Branch (SVB) assessments; taxpayers must disclose such developments to the jurisdictional customs authorities and consult their customs broker so the customs office can determine whether the declared dutiable value and customs liability require reassessment. (AI Summary)