India: Valuing imports from a related party for customs purposes

India: Valuing imports from a related party

The Special Valuation Branch of India’s Customs agency investigates transactions involving special relationships between related buyers and sellers or those transactions involving other special circumstances concerning the sale of imported goods—both of which have a bearing on the assessable value.

Related content

As a trade facilitation measure, the Central Board of Excise and Customs issued guidelines concerning valuation of related-party imports by the Special Valuation Branch. The guidelines—Circular No 5/2016-Cus (9 February 2016)—replace prior guidance. Also, separate guideline have been issued to deal with pending cases.  

 

Read a February 2016 report [PDF 288 KB] prepared by the KPMG member firm in India: Revised procedure for valuation of imports from a related party by a Special Valuation Branch of Customs

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit

KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.