CAAR allows TPuS method for goods to be imported from related party suppliers

In re Sick India Pvt. Ltd (CAAR Mumbai) Regarding seeking certainty on consistency with the principles of customs valuation under process called Transfer Price System and steering Concept (TPuS) To summarise, a factual matrix submitted by applicant states that they propose to follow Transfer Pricing System and Steering Concept (TPuS) method also known as Resale Price method/Resale Minus method only from 1st May 2023 onwards for related party imports for determination of transaction value under section 14 of the Customs Act, 1962. The CBIC Circular referred above has mandated that in case of re...