Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARD :: TDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Latest Circulars »
  Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Availability of LAF and MSF windows on March 25 and 26, 2017 (Saturday & Sunday)
 RBI Working Paper Series No. 5/2017: Comparison of Consumer and Wholesale Prices Indices in India: An Analysis of Properties and Sources of Divergence
 All Agency Banks and select offices of RBI to remain open on all days from March 25, 2017 to April 1, 2017
 RBI-Sources of Variation in Foreign Exchange Reserves in India during April-December 2016
 Developments in India’s Balance of Payments during the Third Quarter (October-December) of 2016-17
 RBI signs Memorandum of Understanding(MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Bank of Thailand
 RBI-Meeting Schedule of the Monetary Policy Committee for 2017-18
 RBI to conduct Overnight, 7 day and 14 day Variable rate Reverse Repo auctions under LAF on March 22, 2017
 Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies
 Master Directions on Issuance and Operation of Prepaid Payment Instruments in India

Custom Circular No.: 12/2010
June, 23rd 2010

Circular No.: 12/2010-Cus

 

F.No.528/21/2008-Cus (TU)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

*****

 

North Block, New Delhi.

21st  June, 2010.

To

 

All Chief Commissioners of Customs / Customs (Prev.).

All Chief Commissioners of Customs & Central Excise.

All Commissioners of Customs / Customs (Prev.).

All Commissioners of Customs & Central Excise.

All Director Generals under CBEC.

The Principal Chief Controller of Accounts (Cus & CX).

 

 

Subject:   Basis of levy of additional Customs duty (CVD) on import of Readymade Garments Clarification - regarding.

 

 Sir / Madam,

 

               The issue of the additional duty of Customs (CVD) on import of readymade garments on the basis of the Maximum Retail Price (M.R.P.) / Retail Sale Price (R.S.P.) has been under the consideration of the Board for quite some time.  Representations have been received from the trade and industry as well as the field formations seeking a clarification in the matter.

 

2.            The issue was examined in the Board vide Circular No. 17/2008-Cus dated 21-10-2008 and it was clarified that for the purpose of uniformity in assessment, the additional duty of Customs (CVD) is chargeable on import of readymade garments on the basis of transaction value i.e. C.I.F. price plus landing charges and not on the basis of R.S.P./ M.R.P. However, w.e.f 19.-08-2009 a proviso has been inserted in Section 3(2) of the Customs Tariff Act, 1975 vide Section 93 of the Finance Act 2009 which reads as Provided further that in the case of an article imported into India, where the Central Government has fixed a tariff value for the like article produced or manufactured in India under sub-section (2) of Section 3 of the Central Excise Act, 1944, the value of the imported article shall be deemed to be such tariff value.Thus Boards Circular No. 17/2008 dated 21.10.2008 has lost its relevance.

 

3.            In view of the existing legal provisions i.e. Section 3(2) of the Customs Tariff Act, 1975, read with Section 3(2) of the Central Excise Act, 1944, the Notification  No. 20/2001 CE (NT) dated 30.04.2001 and Sr. No. 21 of the Fifth Schedule of the Standards of Weights and Measures Act 1976. Government has fixed tariff value in respect of articles of apparel, whether or not knitted or crocheted, all sorts, falling under Chapter 61 or 62 of the First Schedule of the Customs Tariff Act, 1975 when imported in packaged form for retail sale at the rate of 60% of MRP. Accordingly, it is clarified that for the purpose of uniformity in assessment, the additional duty of Customs (CVD) is chargeable on import of such readymade garments on the basis of their R.S.P./ M.R.P.

 

4.            The field formations as well as trade and industry may be suitably informed.

                                   

 

Yours faithfully,

           

 

 (R.P. Singh)  

Director(Customs)

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions