https://www.taxtmi.com/circulars?id=63703 Valuation of imported used capital goods relies on the transaction value where sale conditions are met; when pre import alterations or buyer incurred costs exist, those elements must be quantified. If transaction value conditions fail and comparable sales or computed cost data are unavailable for used machinery, the officer should apply alternative valuation methods sequentially and may use the residual method to account for condition, depreciation, refurbishment and related charges. Neutral inspection/appraisement reports in prescribed formats from overseas Chartered Engineers or locally empanelled engineers shall be used to ensure uniform, commercially realistic valuation. en-us Mon, 02 Mar 2020 00:00:00 +0530 Mon, 06 Apr 2020 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63703 Valuation of imported used capital goods relies on the transaction value where sale conditions are met; when pre import alterations or buyer incurred costs exist, those elements must be quantified. If transaction value conditions fail and comparable sales or computed cost data are unavailable for used machinery, the officer should apply alternative valuation methods sequentially and may use the residual method to account for condition, depreciation, refurbishment and related charges. Neutral inspection/appraisement reports in prescribed formats from overseas Chartered Engineers or locally empanelled engineers shall be used to ensure uniform, commercially realistic valuation. Circulars Customs Mon, 02 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63703