Additional Customs duty only on transaction value of apparels
12 Nov '08
1 min read
In a circular dated October 21, 2008, the office of the Central Board of Excise and Customs has clarified that import of ready made garments would be subjected to additional duty of customs (CVD) only on the basis of transaction value and not on the basis of retail sales price.
This clarification has been issued, when it was brought to the notice of the board that in some cases of import of readymade garments the CVD was levied on basis of maximum retail price or retail sales price of the garments.
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