TR questions and Customs value assesment

[nycbom]

I am looking to R2I end of the year. I am Indian citizen/US GC holder and my husband is foreigner. He will get PIO card being married to me:).
1. Does it matter if TR is claimed under my name or his? We are not sure how long we will be India, since my husband has never lived outside NYC. Any advantages/disadvantages?
2. We are shipping everything from our home in a container. I understand that electronics will be charged a duty of 15% and furniture will be duty free if it is older than a year.
a) how do i prove that the furniture is older than a year? I may not have receipts for everything.
b) how is value determined for electronics? everything i read says 15% of custom determined value? How does customs do that for old electronics?

[dbs]

You have to live in india for a minimum one year. Short trips during this period are acceptable.
Husband being a foreigner is not material. TR can be obtained by a foreigner.

One set is charged at 15 % and second at higher rate. e.g. first TV (more than a year old) is at 15% and the second set at 35%.
Furniture looking used is good enough.
Customs usually have catalogues showing the prices and very often make an approximation. It is then depreciated based on age of the equipment. Some custom officers are reasonable and some are not.

[21stCenturyRelo]

nycbom,

Either of both indian citizens as well as US citizens can claim TR (any one per family) as long as the US citizen has PIO/OCI status. customs will inspect the furniture at the port of import and if the officer is satisfied that the furniture is old (it has signs of usage and dust, tears, nicks etc) or if you have purchase receipts showing the date you bought them, it will help prove that they are more than a year old and be allowed duty free. If they are new or look new, then you may have to pay 35% duty on them. DBS has already addressed the point on value so I wont go into that.

Trust this helps

Yogesh

I am looking to R2I end of the year. I am Indian citizen/US GC holder and my husband is foreigner. He will get PIO card being married to me:).
1. Does it matter if TR is claimed under my name or his? We are not sure how long we will be India, since my husband has never lived outside NYC. Any advantages/disadvantages?
2. We are shipping everything from our home in a container. I understand that electronics will be charged a duty of 15% and furniture will be duty free if it is older than a year.
a) how do i prove that the furniture is older than a year? I may not have receipts for everything.
b) how is value determined for electronics? everything i read says 15% of custom determined value? How does customs do that for old electronics?

[21stCenturyRelo]

You have to live in india for a minimum one year.

Hi dbs,

this is no longer a requirement. a person can leave India immediately after claiming TR and does not need to stay in India for one year. he wont be able to claim another tr for 3 years.

Yogesh

[mahipalc]

I am looking to R2I end of the year. I am Indian citizen/US GC holder and my husband is foreigner. He will get PIO card being married to me:).
1. Does it matter if TR is claimed under my name or his? We are not sure how long we will be India, since my husband has never lived outside NYC. Any advantages/disadvantages?
2. We are shipping everything from our home in a container. I understand that electronics will be charged a duty of 15% and furniture will be duty free if it is older than a year.
a) how do i prove that the furniture is older than a year? I may not have receipts for everything.
b) how is value determined for electronics? everything i read says 15% of custom determined value? How does customs do that for old electronics?

Regarding furniture, it depends entirely on the customs officer. I shipped (to Hyderabad) two new leather sets, three new matrresses, a new dining set and a few new chairs along with a used sofa set and everything was marked as used after talking to them. It was new and in the original packing but they still marked it as used after talking to them politely for a few minutes (no bribe whatsoever)

For old electronics, they come up with a random value which is usually in line with the market value. A used 60" LCD that I carried was valued at 20k which was more or less what it was worth, and I had to pay 3k tax on it. But keep in mind, the oldest unit will be used as the first one for assessing the 15% duty. I had 3 TVs, 1 used and 2 new..paid 15% on the used TV and 35% each on the new ones.

[21stCenturyRelo]

A used 60" LCD that I carried was valued at 20k which was more or less what it was worth, and I had to pay 3k tax on it. But keep in mind, the oldest unit will be used as the first one for assessing the 15% duty. I had 3 TVs, 1 used and 2 new..paid 15% on the used TV and 35% each on the new ones.

Mahipal,

This need not be the case. Under TR, the importer has the right to choose which TV he wants to pay 15% on (logically, one should choose the most expensive one rather than any used or any new one) and the cheaper ones are charged duty @ 35%. Customs officer cannot force you to pay 15% on the used one and 35% on the new one. When filling up the TR form, if you declare the one that you want to pay 15% on, then thats the way it will be assessed.

Hope this helps

Yogesh

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