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2014 (1) TMI 1016 - CESTAT MUMBAIWaiver of pre-deposit of duty - Duty demand - Mis declaration of goods - Valuation of goods - Held that:- At the time of clearance of the goods the transaction value has been rejected and the assessable value was taken on the basis of contemporaneous import made by other parties at the relevant time as per NIDB Data and the same has been accepted by the applicant accordingly. We further find that if two prices are available for the contemporaneous imports then lower contemporaneous import price is to be taken. As in this case, at the time of import, the assessable value was determined on the basis of the contemporaneous import available at that time therefore, the lowest value of the contemporaneous import is to be the assessable value - applicant has made out a case for 100% waiver of pre-deposit - Stay granted.
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