TaxTMI 
TaxTMI 
Customs Valuation (Determination of value of imported goods) Rules, 2007- Instructions
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....7 PUBLIC NOTICE NO. 42/2007 Sub:- Customs Valuation (Determination of value of imported goods) Rules, 2007- Instructions regarding. Attention of all Importers. Exporters, CHAs, members of Trade and all other concerned is invited to the section 95 of the Finance Act, 2007 which substitutes the existing section 14 of the Customs Act, 1962. The new section 14 of the Customs Act, 1962 has com....
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....ct, 1962. (ii) A proviso has been added to Rules 4(1)(a) and 5(1) concerning identical goods and similar goods respectively, to the effect that the value of the goods provisionally assessed under Section 18 of the Customs Act, 1962, shall not be the basis for determining the value of any other goods. (iii) In the residual method of Valuation, which has been renumbered as Rule 9 (....
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....e process is put to use. This Explanation has been added in the context of the Supreme Court judgement in the case of J.K. Corporation Ltd. Versus Commissioner of Customs (Port) Kolkata [2007 (208) ELT 485 (SC)] so as to clarify that such royalty, license fee, etc., if otherwise includible in terms of clauses (c) or (e) of Rule 10, will be includible in the value of the goods irrespective of the f....
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....ach the landmass of India in the Customs area of the port, airport or land customs station, or if they are consumed before reaching the landmass of India, the place of consumption. Therefore, in cases where ship demurrage charges are paid by the importer for detention of the ship in the harbour before touching the landmass at the docks or at the place of consumption, these charges would be includi....