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Valuation treatment of royalty/license fees payable on imported films- regarding
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....mported films- regarding. Representations have been received from the importers of foreign films, namely, Foreign Film Chamber of India, Motion picture Association of America, stating that Customs duty on imported cinematographic film is leviable only on the cost of the print, plus freight and insurance charges as per Customs Notification No. 205/77-Cus, dated, 24.9.1977 and therefore, the remit....
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.... are not included in the price actually paid or payable. This would mean that Customs duty should be based on the intrinsic value of the product. Which shall include the payment on account of royalty/license fee directly related to the imported goods. As the Customs duty exemption Notification 205/77-Cus., dated 24.9.1977 is no more in force, the imported Cinematographic Films shall be leviable to....