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[Cites 0, Cited by 0] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(2) in The Customs Tariff (Determination of Origin of Products under the Duty Free Tariff Preference Scheme for Least Developed Countries) Rules, 2015

(2)For the purpose of calculating the "local value added content" referred to in sub-rule (1), one or other of the following formulae shall be applied: -
(a) Local value added content (X %) =| (FOB value)-(value of non-originating materials)(FOB value)| x 100% ≥ 30%;
(b) Local value added content (X %) =| (ex-works value)-(value of non-originating materials)(ex-works value)| x 100% ≥ 30%;