Customs Valuation Rules, 1988 – Determination of assessable value for goods sold on high seas – reg

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....cise & Customs Sub:- Customs Valuation Rules, 1988 - Determination of assessable value for goods sold on high seas - reg. Representations have been received on the Ministry to clarify the manner of determining the value of imported goods imported on high-sea-sales basis. As per the existing practice in Mumbai Custom House, the "high-seas-sales-charges" are added to the declared CIF value in ter....

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....tion took place with a view to export the goods to the country of importation, then such transaction would constitute an international transfer of goods. The later transaction, which led to the import, would be the relevant transaction for assessment and Rule 4 of Customs Valuation Rules, 1988 would apply. Hon'ble Supreme Court, in the case of M/s.Hyderabad Industries Limited [2000(115)E.L.T.593(S....