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2014 (5) TMI 366 - CESTAT MUMBAIDetermination of assessable value - Valuation of imported goods – Enhancement of selling price - Price in Bill of Entry - What should be the correct value of the imported goods – Held that:- While determining the price in the case of Tixosil 38AB the adjudicating authority has re-determined the assessable value as Rs. 82,304 - If the calculation sheet produced by assesse is taken the cost comes to Rs. 83,321 which is appropriate considering that the customs duty, local clearance, logistic cost, insurance are to be includible in the cost price of assesses - Therefore, both the lower authorities have erred in determining the assessable at Rs. 82,304/- - In fact, they had to determine what is the cost at the hand of assessee and at which price the goods are being sold by them - Assessees have been able to prove that after importing the goods, they have incurred certain expenses which have been shown by the appellants before the lower authorities as here with documentary evidences - Therefore, those expenses are necessary to arrive at cost price of the impugned goods - Thus, the basis of determining the assessable value on the basis of sale price giving margin of 20% of profit on the sale price is to be ignored when we are having the cost price including the expenses incurred by assesse - Therefore, the declared price is to be accepted - The impugned order is set aside –Decided in favour of assesse.
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