REGISTERED No. D. 221
The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (i)
PUBLISHED BY AUTHORITY
No. 46] NEW DELHI, TUESDAY, MARCH 12, 1968/PHALGUNA 23, 1889
Separate paging is given to this Part in order that It may be filed
as a separate compilation.
MINISTRY OF FINANCE
(Department of Revenue and Insurance)
NOTIFICATION
CUSTOMS
New Delhi, the 12th February 1968
G.S.R. 518.—In exercise of the powers conferred by clause (b) of sub- section (1) of section 14, read with section 156, of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules, namely:—
1. Short title.—These rules may be called the Customs (Export of Tea to United Kingdom on Consignment Account) Valuation Rules, 1968.
124 T HE G A Z E T TE OF INDIA EXTRAORDINARY [PART II-SEC. 3(1)]London, less the aggregate of the amounts specified hereunder (to the extent esti- mated by the Collector of Customs as reasonable and ordinarily Incurred in respect ol such tea), namely:—
(a) the discount for prompt payment of the auction price of such tea, ordi- narily allowed to a buyer at the auction in London;
(b) the expenses ordinarily incurred by the exporters of such tea by way of—
\\) duty of customs;
(ii) ocean freight; (iii) marine and war risk Insurance;
(c) the cost of financing in London the transaction in respect of such tea for the period commencing from the date of export of such tea and ending with the date of clearance thereof from the bonded warehouse in London, had such tea been purchased at the port of exportation;
(d) such expenses incurred in London (other than expenses in connection with the auction of such tea ia London) as are considered reasonable and which would have been ordinarily incurred on such tea had the same been purchased at the port of exportation.
4. Determination of value to the twst of Judgment.—If the value of the tea referred to in rule 2 cannot be determined under rule 3, the proper officer shall, after taking into account all relevant materials which he has gathered, determine the value thereof to the best of his judgment.
[No.- 47/F. No. 3/3/67-Cus. VI.]
M. G- ABROL, Jt. Secy.