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2016 (2) TMI 542 - AT - CustomsValuation of import of H. Acid and Bita Napthol on High Seas Sales basis - Subsequent to clearance DRI Officers found that M/s ACCIL had raised debit notes in respect of the said consignments and have collected the debit note amount from four of the importers. It was, therefore contended that the assessable value should be the value declared by the importer + the value of the debit note. Held that:- It is clearly stated in the circular that the actual High Seas Sales contract price paid by the last buyer would constitute the transaction value under Rule 4 of Customs Valuation Rules, 2004. It is also mentioned that the importer is required to furnish entire chain of documents such as original invoice, High Seas Sales contract, the details of service charges, commission paid etc, to establish the link between the first international transfer of goods to the last transaction. In the instant case, it is clearly established that M/s ACCIL has entered into the sales agreement with the other appellants and had not furnished the details to Customs authorities, but raised the debit notes and recovered higher amounts from their buyers. Demand of duty confirmed with penalty invoking extended period of limitation - Decided against the assessee.
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