ICC will have to pay 5.5% octroi duty
It wasn’t just the Customs department that wanted to charge duty on the World Cup perpetual trophy but even the civic body is keen to recover octroi from the International Cricket Council (ICC).cricket Updated: Apr 06, 2011 01:32 IST
It wasn’t just the Customs department that wanted to charge duty on the World Cup perpetual trophy but even the civic body is keen to recover octroi from the International Cricket Council (ICC).
The Brihanmumbai Municipal Corporation would have also charged octroi on the World Cup trophy — 5.5 per cent of the total cost — cost of the trophy and customs.
Customs officials, with the help of experts, assessed the value of the trophy made of gold and silver at `60 lakh and the duty on it was determined to be `22 lakh.
The ICC refused to pay the duty and on Monday said
it would take the trophy
back instead while returning to Dubai where it has its headquarters.
As per rules, the re-export of a detained legitimate good for which duty is not paid is allowed.
The trophy is still lying unclaimed in the custody of the customs department at the Chhatrapati Shivaji International Airport for non-payment of the duty.
Sources in the customs department claimed that the “replica” (the perpetual trophy) had been brought to India by an ICC representative on January 18 this year.
The ICC has, however, claimed that the trophy the Customs has is not the original one.
“If the customs department clear the trophy, the International Cricket Council will have to pay 5.5% of its cost as octroi duty for bringing it to the city,” said SS Shinde, joint municipal commissioner.
The civic body charges 0.1% octroi only on gold but since the trophy is a mix of other metals as well, it will attract a higher octroi duty.