IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 11 Nov 2016 | Removal date: open ended
Still in force

Import-related non-tariff measure, nes

As per the earlier gazette notification No. 1756-29 (May 2012) the cost of transport for customs valuation purpose was taken as 15% of the Free On Board (FOB) value of the goods when these goods are imported in the importer's own vessel. The rule has been amended to include both importers who import own goods by owned vessels or importers who import single goods using a chartered vessel. Further, the cost of freight will now be determined as 15% of the Free On Board value of the goods or the applied cost of freight, if this applied freight is less than 15% of the FOB value.

AFFECTED COUNTRIES

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