The Institute of Business Laws, in association with Lakshmikumaran & Sridharan (L&S), is organizing a full day seminar on 2nd December, 2011 at Bangalore to deliberate on Customs Valuation, SVB issues and Transfer Pricing. The seminar provides an excellent platform for stake-holders to meet an array of top professionals and obtain clarification on complicated issues.
Importers, exporters, custom house agents, logistics providers and other stake holders have grappled with issues on Customs Valuation for a long time. The increased monitoring and tough stance by the customs authorities have compounded the issues. Adoption of rules for Customs Valuation in India on the lines of GATT Valuation Code has not made significant impact specifically in cases pertaining to inclusion of royalty & license fees and transactions between associated enterprises. More often, the latter cases are taken by Special Valuation Branch(SVB) located in Custom Houses in major cities and stakeholders are required to provide a host of documents and go through the onerous process of hearing, orders and appeals.
The dichotomy between stance taken by tax authorities for customs valuation and transfer pricing is more prominent than ever. While Customs authorities seek to enhance the value of imported goods, Income Tax Department demands that lower transfer prices be adopted. The stakeholders need expert assistance and customised solutions for these complicated issues arising out of Customs Valuation, SVB investigations and Transfer Pricing. The seminar seeks to address the same.