Asseble value calculation process for Trading components at Custmos clearing

[Asked by Guest]

we are going to  import  Engineering material (8431  ......) through trading mode my query is

(1) Whether declaring MRP IS mandotory for this component if so what is the procedure for the same

(2) If it is not mandotory how customs will arrive the assesble value for duty calculation

thanks

AI Summary

Maximum Retail Price labeling requirement applies only to retail goods; otherwise customs values imports at transaction price.
MRP labeling is required only for goods intended for retail sale and must be shown on the package. For trading imports not subject to MRP, customs uses the declared transaction value as the assessable value for duty calculation; there is no automatic fixed multiple uplift of the transaction value.