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2019 (5) TMI 927 - AT - CustomsFinalization of provisional assessment - value to be adopted for assessment of liquid bulk cargo - HELD THAT:- The bills of entry were finalised by levying duty on the value in the invoice which reflects the quantity loaded at the port of origin. The Hon'ble Supreme Court examined the several provisions in Customs Act, 1962 and, based on the legal position that levy of customs duty is restricted to goods that are brought into India, that the taxable event is the import of goods, that import duty is not leviable on goods that are lost, pilfered or destroyed, and that the measure of value of imported goods cannot be delinked from the contextual of time and place of import, has held that the duty liability is to be ascertained only on the quantity received in the shore tank. Appeal allowed - decided in favor of appellant.
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