Section 16
Determination Of Customs Value Of Goods To Be Exported
(1) The invoice value declared by an exporter shall be the customs value of the goods to be exported.
(2) Notwithstanding anything contained in Sub-section (1), the Government of Nepal may, if considers necessary, determine separate customs value of any goods of specific nature to be exported, by notification in the Nepal Gazette. Where separate customs value is so determined, the customs value of such goods shall be the invoice value declared by the exporter or the customs value so determined by the Government of Nepal, whichever is higher.
(3) The customs value referred to in Sub-section (1) or (2) shall be the free on board (FOB) value. Explanation: For the purposes of this sub-section, “free on board (FOB) value” means a value which includes the factory price of the goods to be exported and costs incurred in Transportation of such goods up to the concerned Customs Office of Nepal. (4) The value of goods to be determined pursuant to this Section shall be determined in foreign currency. Such foreign currency shall be converted into the Nepalese rupees according to the buying rate of foreign currency which is prescribed by Nepal Rastra Bank and prevailing on the day of clearance of such goods.
(2) Notwithstanding anything contained in Sub-section (1), the Government of Nepal may, if considers necessary, determine separate customs value of any goods of specific nature to be exported, by notification in the Nepal Gazette. Where separate customs value is so determined, the customs value of such goods shall be the invoice value declared by the exporter or the customs value so determined by the Government of Nepal, whichever is higher.
(3) The customs value referred to in Sub-section (1) or (2) shall be the free on board (FOB) value. Explanation: For the purposes of this sub-section, “free on board (FOB) value” means a value which includes the factory price of the goods to be exported and costs incurred in Transportation of such goods up to the concerned Customs Office of Nepal. (4) The value of goods to be determined pursuant to this Section shall be determined in foreign currency. Such foreign currency shall be converted into the Nepalese rupees according to the buying rate of foreign currency which is prescribed by Nepal Rastra Bank and prevailing on the day of clearance of such goods.