Standard Exchange Scheme duty exemption: customs limited to value based on final standard exchange cost for repaired parts. Exemption of customs duty on aircraft parts imported under the Standard Exchange Scheme is limited to duty exceeding what would be leviable if the parts' value were taken as the Standard Exchange Cost plus insurance and freight both ways. The exemption applies only where parts are repaired or overhauled (not new); a registered Standard Exchange Agreement exists; the exporter is registered; the Standard Exchange Cost is final; no drawback is claimed; and importer produces exporter certificates confirming supply from a pool of repaired or overhauled parts and finality of the Standard Exchange Cost.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Standard Exchange Scheme duty exemption: customs limited to value based on final standard exchange cost for repaired parts.
Exemption of customs duty on aircraft parts imported under the Standard Exchange Scheme is limited to duty exceeding what would be leviable if the parts' value were taken as the Standard Exchange Cost plus insurance and freight both ways. The exemption applies only where parts are repaired or overhauled (not new); a registered Standard Exchange Agreement exists; the exporter is registered; the Standard Exchange Cost is final; no drawback is claimed; and importer produces exporter certificates confirming supply from a pool of repaired or overhauled parts and finality of the Standard Exchange Cost.
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