CWM Offers Second Hand Machinery Valuation Services at All Major Ports
• Second Hand Machinery Valuation
• Audits and Valuation of Used Capital Goods and Plants
• Quality Audits and Inspections
• Documentary Due Diligence and Compliance
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 loading or port of discharge in India.
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 email@example.com or Call CWM India office in New Delhi at +91 11 23281314; +91 9654404332.