Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The Policy Circular No. 02/2024 issued by the Directorate General of Foreign Trade provides clarification on the applicability of payment requirements for non-achievement of minimum Value Addition as per Para 4.49 (b) and 10% of CIF value as per Para 4.49 (a) (ii) of HBP 2023. It states that Advance Authorizations issued before 01.04.2023 are governed by the provisions of the relevant Handbook of Procedure (HBP) under which they were issued, excluding clubbing and extension provisions. The payment provisions specified in Para 4.49(a) (ii) and 4.49(b) apply only to authorizations issued on or after 01.04.2023. The clarification does not allow for a refund of already paid fees.
The Policy Circular No. 02/2024 issued by the Directorate General of Foreign Trade provides clarification on the applicability of payment requirements for non-achievement of minimum Value Addition as per Para 4.49 (b) and 10% of CIF value as per Para 4.49 (a) (ii) of HBP 2023. It states that Advance Authorizations issued before 01.04.2023 are governed by the provisions of the relevant Handbook of Procedure (HBP) under which they were issued, excluding clubbing and extension provisions. The payment provisions specified in Para 4.49(a) (ii) and 4.49(b) apply only to authorizations issued on or after 01.04.2023. The clarification does not allow for a refund of already paid fees.
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