CWM now Offers Valuation Services at All Major Ports in India

New Services Offered

• Second Hand Machinery Valuation

• Valuation of Used Capital Goods

• Quality Inspections

By circular No. 25/2015 of 15 October 2015 (in supersession of circular 4/2008 dated 12.02.2008) the Department of Revenue, Ministry of Finance, Government of India has said that Valuation of second hand machinery must be carried out by DGFT approved Inspection Agency at the port of discharge in India. (The valuation at the load port in the source country can be done by a Chartered Engineer who may or may not be associated with the DGFT approved agency).

CWM with headquarters in Netherlands is approved by the DGFT and notified in Appendix 2G of Handbook of Procedures 2015-2020. It has a well-established global footprint with a network in India too. It is equipped with Valuation experts, Surveyors and Chartered Engineers to carry out the Inspection and Valuation tasks stipulated in the CBEC circular. The option of carrying out the valuation in the source country before shipping to India is also available.

A Chartered Engineer’s (CE) in Form A (Outside India) or Form B (In India) with detail for spares, reconditioning, repairs and transport expense is required under Customs Valuation Rules 2007 for customs clearance in India now from 15 October 2015.

The Inspection and Valuation certificate carries the authenticity of the make, condition, current market value for assessment of duty and balance life of machinery and other capital goods. It should, in normal course, be sufficient evidence of value to customs.

For queries on Valuations Services: contact us at info@cwminternational.com or Call CWM India office in New Delhi at 011-23281314; 23240230.