Home Case Index All Cases Customs Customs + AT Customs - 2015 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (5) TMI 910 - AT - CustomsValuation of goods - whether the transaction value can be rejected under Rule 10A of the Customs Valuation Rules 1988 - Held that:- During the months of July and August, 2004 there was volatility in the international price of Phenol. It is evident from the information available in international journal ICIS LOR for spot prices of Phenol on different dates - The appellant did not produce any evidence to show the international price consistent with the invoice presented by them along with the imported goods. They have also not produced any evidence to show that lesser price was charged from them by the same supplier on any commercial consideration such as quantity, quality or negotiation. - From the facts recorded by the first appellate authority international prices of PHENOL were increased after 30.07.2004 and were ranging between US $ 1256 PMT to 1322 PMT FOB. The contract entered between the appellants and the supplier is after 30.07.2004, therefore, higher price of US $ 1350 PMT CIF, at which same goods were imported by contemporaries in the same vessel, was justified for payment of duty and transaction value has been correctly rejected. - proceedings there is sufficient reasons to reject the transaction value under Rule 10A of the Customs Valuation Rules 1988 - Decided against assessee.
|