Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) For the purposes of subsection 153ZML(2) of the Act, this section explains how to work out the value of originating materials or non-originating materials used in the production of goods.
(2) The value of the materials is as follows:
(a) for materials imported into the territory of India by the producer of the goods:
(i) the price paid or payable for the materials at the time of importation; or
(ii) if the value of the materials cannot be determined under subparagraph (i)--the value of the materials worked out in accordance with the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994;
(b) for materials acquired in the territory of India--one of the following chosen by the importer of the goods:
(i) the price paid or payable for the materials by the producer of the goods;
(ii) the value of those materials worked out under paragraph (a) on the assumption that those materials had been imported into the territory of India by the producer of the goods;
(iii) the earliest ascertainable price paid or payable for the materials in the territory of India;
(c) for materials that are produced by the producer of the goods--all the costs incurred in the production of the materials, including general expenses.
(3) For the purposes of paragraph (2)(a), in working out the value of particular materials, the costs of insurance and freight incurred in delivering the materials to the port of importation in India must be included.
(4) In working out the value of particular originating materials under subsection (2), the following may be included, to the extent that they have not been taken into account under that subsection:
(a) the costs of freight, insurance, packing and all other transport related costs incurred to transport the materials to the location of the producer of the goods;
(b) duties, taxes and customs brokerage fees on the materials that:
(i) have been paid in either or both of the territory of India and the territory of Australia; and
(ii) have not been waived or refunded; and
(iii) are not refundable or otherwise recoverable;
including any credit against duties or taxes that have been paid or that are payable;
(c) the costs of waste and spoilage resulting from the use of the materials in the production of the goods, reduced by the value of reusable scrap or by-products.
(5) In working out the value of particular non-originating materials under subsection (2), the following may be deducted:
(a) the costs of freight, insurance, packing and all other transport related costs incurred to transport the materials to the location of the producer of the goods;
(b) duties, taxes and customs brokerage fees on the materials that:
(i) have been paid in either or both of the territory of India and the territory of Australia; and
(ii) have not been waived or refunded; and
(iii) are not refundable or otherwise recoverable;
including any credit against duties or taxes that have been paid or that are payable;
(c) the costs of waste and spoilage resulting from the use of the materials in the production of the goods, reduced by the value of reusable scrap or by-products.