Indirect Taxes
- Customs
- Customs
- Advance Rulings
- Audit
- Background
- Classification of Goods under The Customs Tariff Act, 1975
- Customs Duty Drawbacks
- Date for Determining Rate of Duty and Valuation
- Demand, Recovery and Refund of Duty
- Interest
- Levy of Customs Duty
- Penalties
- Procedure of Import
- Prosecution
- Settlement of Cases
- Some Important Definitions
- Types of Duties
- Valuation of Goods
- Warehousing
- Goods and Services Tax (GST)
- Goods and Services Tax (GST)
- Accounts and Records
- Assessments and Audits
- Classification of Goods and Services
- E-Way Bill
- Input Tax Credit (ITC)
- Interest
- Penalties & Prosecution
- Place of Supply
- Refund
- Registration
- Relevant Circulars - Miscellaneous
- Returns
- Reverse Charge Mechanism under Goods and Services Tax (GST)
- Supply with Schedules
- Time of Supply
- Transitional Provisions
- Valuation of Supplies
- Maharashtra Profession Tax
- Maharashtra Value Added Tax
- Maharashtra Value Added Tax
- Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019
- Service Tax
DATE FOR DETERMINING RATE OF DUTY AND VALUATION
Imported goods
The rate of duty and tariff valuation shall be as applicable on relevant dates18 as specified in below mentioned table:
|
Situations |
Relevant Date |
|---|---|
|
Goods cleared directly for home consumption |
Date of presentation of bill of entry (BOE) |
|
Goods cleared from warehouse for home consumption |
Date of presentation of bill of entry for home consumption (popularly known as ‘ex-bond BOE’) |
|
Any other case |
Date of payment of duty |
|
Notes: 1. BOE shall be presented before the end of next day (excluding holidays) after arrival of the aircraft, vessel or vehicle at the customs station. However, the importer has an option to file advanced BOE, 30 days prior to the expected arrival date of the aircraft, vessel or vehicle (Section 46 of the Customs Act). 2. In case BOE is presented before date of entry inward or arrival of the aircraft, vessel or vehicle; ‘relevant date’ for the above table shall be deemed to be the date of entry inward or arrival. |
|
Exported goods:
The rate of duty and tariff valuation shall be as applicable on relevant dates19 as specified in below mentioned table:
|
Situations |
Relevant Date |
|---|---|
|
Goods entered for export under Shipping Bill/Bill of Export |
Date of issuance of ‘Let Export Order’ |
|
Any other case |
Date of payment of duty |
Please note that there are separate rules for baggage and post and therefore, above general provisions do not apply to baggage and post.