Beyond Borders - March 2019

BDO in India presents Beyond Borders - The Customs & International Trade Journal. The monthly issue of the C&IT journal covers recent developments in the world of Customs & Foreign Trade in India, current global & technological trends and insights from eminent faces in the trade.

Cover story on  post-import Transfer Pricing adjustments and their acceptance to Customs in India 

India is a signatory to the WTO Agreement on Customs Valuation (ACV) that recognises that the price between related parties is not, in and of itself, reason to question the pricing between those parties, related-party transactions and post-importation adjustments. Yet, Customs authorities in the country continue to question importers, who might have imported initially at a certain price from another overseas group entity but subsequently imported another consignment of similar goods at a lower price.

The Hamamatsu Judgment - This case is particularly significant from a customs and transfer pricing point of view, as Hamamatsu's situation is a common one in today's global economy. The case concerns overlap between retrospective transfer pricing adjustments and the customs valuation of imported goods.

We hope you have an insightful read.