Customs valuation: include transport and insurance to place of importation, with prescribed presumptive rates where costs are unascertainable. Amendment defines place of importation and mandates inclusion of transport, loading, unloading, handling and insurance to the place of importation in the customs value. Where such costs are not ascertainable, transport costs are to be taken as twenty per cent of FOB (or of FOB plus insurance where FOB alone is not ascertainable) and insurance as 1.125% of FOB (or of FOB plus transport where FOB alone is not ascertainable). Transport costs for air imports shall not exceed twenty per cent of FOB, and transshipment-related transport and insurance charges within India are excluded. Transport includes demurrage, lighterage and barge charges.
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Provisions expressly mentioned in the judgment/order text.
Customs valuation: include transport and insurance to place of importation, with prescribed presumptive rates where costs are unascertainable.
Amendment defines place of importation and mandates inclusion of transport, loading, unloading, handling and insurance to the place of importation in the customs value. Where such costs are not ascertainable, transport costs are to be taken as twenty per cent of FOB (or of FOB plus insurance where FOB alone is not ascertainable) and insurance as 1.125% of FOB (or of FOB plus transport where FOB alone is not ascertainable). Transport costs for air imports shall not exceed twenty per cent of FOB, and transshipment-related transport and insurance charges within India are excluded. Transport includes demurrage, lighterage and barge charges.
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