Articles 19th Oct 2024
India’s exporters are grappling with a legal quagmire over the inclusion of export duty in customs valuation, causing significant uncertainty and potential financial setbacks. Export duties, levied as per the Second Schedule of the Customs Tariff Act, 1975, apply to goods like tea, coffee, rice, iron ore, and more, either as ad valorem or quantity-based specific duties. The ad valorem method creates complexities, especially when export duty must be factored into the transaction value.
The key issue is whether export duty should be included in the assessable value for calculating further export duties, a matter that has led to several litigations and is currently pending before the Supreme Court.
Against this backdrop, our Partner Jignesh Ghelani & Principal Associate Navaz PC co-authors an article on “Transaction value in case of levy of export duty – A legal quagmire” published on TIOL PRIVATE LIMITED.
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