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: form 3cd :: due date for vat payment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: cpt
 
 
« Latest Circulars »
  RBI-Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024
  RBI releases Handbook of Statistics on Indian States 2016-17
  RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking
 RBI releases Handbook of Statistics on Indian States 2016-17
 RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking
 Recording of Details of Transactions in Passbook/ Statement of Account
 Exclusion of β€œThe Royal Bank of Scotland N.V.” from the Second Schedule to the Reserve Bank of India Act, 1934
 Monitoring of Foreign Investment under PIS in Indian Companies- Removal from Ban List - FIIs/RPIs : M/s IDFC Limited
 FIIs/FPIs can now invest 24 to 49 per cent under PIS in M/s Satin Creditcare Network Limited
  Bankers & SME Borrowers: The Emerging Mantras (Shri S. S. Mundra, Deputy Governor – June 16, 2017 – at the 3rd Bankers Borrowers Business Summit organized by ASSOCHAM in New Delhi1)
 RBI extends Directions issued to Navodaya Urban Co-operative Bank Ltd, Nagpur, Maharashtra

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