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2018 (4) TMI 1436 - AT - CustomsValuation - import of used Hummer car under Transfer of Residence Rules - deduction of depreciation from the value - The appellant’s contention is that trade discount, allowance for VAT refund and for inland haulage charges should also be deducted from the price - Held that: - On reading of the Circular F.N. 3/23/62-Cus-VI dt. 21.01.1964, it is found that the trade discount is meant for the motor cars, which are directly imported from a foreign country by passengers, diplomats and foreign nations. It is evident that it is meant for direct shipment of new cars - As the appellant in this case has brought a used car, the Board Circular of 1964 is not applicable for such cars. VAT refund in the foreign country - Held that: - the plea is not acceptable as maximum allowable depreciation of 70% has been given, which is as per the Board Circular of 1993 - Besides, the VAT refund for a car more than 7 years old does not make sense. Miscellaneous charges - Held that: - those charges are meant for cost of transportation, loading/unloading and handling charges upto importation. Inland Haulage Charges within India of about ₹ 45000/- - Held that: - deduction not tenable because these charges have not been included in the charge. Dealer’s margin - Held that: - the question of considering such margin can be there for a new car and not for a used car. Deduction for parts/accessories fitted by dealer - Held that: - the vehicle was fitted with these and assessment has rightly done on basis of invoice submitted by the appellant declaring the price of US$ 52735.43 including these parts/accessories. Appeal dismissed - decided against appellant.
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