Customs Act, 1969

CHAPTER-V

LEVY OF, EXEMPTION FROM, AND REPAYMENT OF, CUSTOMS-DUTIES

Customs Act, 1969 CHAPTER-V LEVY OF, EXEMPTION FROM, AND REPAYMENT OF, CUSTOMS-DUTIES From: 2023-08-01 - To: 0000-00-00 1[25. 2[Value of imported and exported goods].- (1) Transaction Value.- The customs value of imported goods, subject to the provisions of this section and the rules, shall be the transaction value, that is the price actually paid or payable for the goods when sold for export to Pakistan: Provided that- (a) there are no restrictions as to the disposition or use of the goods by the buyer other than the restrictions which - (i) are imposed or required by law; (ii) limit the geographical area in which the goods may be resold; or (iii) do not affect the value of the goods; (b) the sale or price is not subject to some condition or consideration for which a value cannot be determined with respect to the goods being valued; (c) no part of the proceeds of any subsequent resale, disposal or use of the goods by the buyer will accrue directly or indirectly to the seller, unless an appropriate adjustment is made in accordance with the provisions of sub-section (2) (e); and (d) the buyer and seller are not related, or where the buyer and seller are related, that the transaction value is acceptable for customs purposes under the provisions of sub-section (3). (2) Subject to clause (b), in determining the customs value under sub-section (1),- (a) there shall be added to the price actually paid or payable for the imported goods, if not already included in the price; (i) the cost of transport, excluding inland freight after importation, of the imported goods to the Port, Airport or place of importation; (ii) loading, unloading, and handling charges associated with the transport of the imported goods to the Port, airport or place of importation; and (iii) the cost of insurance; (b) there shall also be added to such price, to the extent that they are incurred by the importer but are not included in the price actually paid or payable of the imported goods- (i) commissions including indenting commissions and brokerage, except buying commissions; (ii) the cost of containers which are treated as being one for customs purposes with the goods in question; and (iii) the…