Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
This instruction clarifies certain aspects of origin procedures under free trade agreements (FTAs), particularly regarding third-party invoicing. It emphasizes that the purpose of a certificate of origin (COO) is to serve as proof that goods qualify as originating under an FTA, irrespective of third-party invoicing. The seller's invoice, including a third-party invoice, is relevant for customs valuation. Where doubts arise about originating criteria, proper officers may seek information and supporting documents from importers, consistent with the FTA. If information is insufficient, verification with the issuing authority through the FTA Cell is triggered, following the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR). The process must align with the FTA, without obligating importers to provide commercially confidential information or requiring specific currencies. Preferential duty claims can be denied without verification only if permitted by the FTA. Non-compliance must be established through due process, natural justice, and FTA obligations. Merely pointing out ineligible value addition elements may be insufficient to reject claims unless demonstrated that the prescribed value addition threshold is not met.
This instruction clarifies certain aspects of origin procedures under free trade agreements (FTAs), particularly regarding third-party invoicing. It emphasizes that the purpose of a certificate of origin (COO) is to serve as proof that goods qualify as originating under an FTA, irrespective of third-party invoicing. The seller's invoice, including a third-party invoice, is relevant for customs valuation. Where doubts arise about originating criteria, proper officers may seek information and supporting documents from importers, consistent with the FTA. If information is insufficient, verification with the issuing authority through the FTA Cell is triggered, following the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR). The process must align with the FTA, without obligating importers to provide commercially confidential information or requiring specific currencies. Preferential duty claims can be denied without verification only if permitted by the FTA. Non-compliance must be established through due process, natural justice, and FTA obligations. Merely pointing out ineligible value addition elements may be insufficient to reject claims unless demonstrated that the prescribed value addition threshold is not met.
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