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2018 (8) TMI 430 - AT - CustomsRefund claim - provisional transactional value - the Assessable value quoted in the Shipping Bill has been drastically reduced - rejection of refund on the ground that refund claimed by them without challenging the assessment is not maintainable - Held that:- The value declared by the appellant in the case in hand is a provisional transaction value as the invoice indicates that is a provisional invoice. Provisions of the Section 16 mandate for determination of rate of duty in respect of export goods and Section 18 of the Customs Act, talks about provisional assessment of duty in the case of exports and imports. Provisions of Section 16 has to be given a play by reading to Section 14, which would indicate that value of export of goods shall be the transaction value of those goods which means the price actually paid or payable for the goods when exported from India and place of exportation. Since in the case in hand, the price payable by the purchaser was not final and was lowered, subsequently and accepted by Reserve Bank of India. The reduced price of the export goods has been correctly accepted by the First Appellate Authority as the price “payable” or paid for the consignment exported by the shipping bill dated 22.08.2008 - the First Appellate Authority was correct in coming to such a conclusion. The shipping bill dated 22.08.2008 is not yet finalized by the assessing officer. The shipping bill needs to be finalized by the assessing officer - the issue of finalization of the shipping bill remitted to the assessing officer, who shall do so in accordance with the law and shall also consider the documentation entered with Reserve Bank of India by the respondent and consequent to the finalization of the shipping bill shall refund the differential duty paid. Appeal allowed by way of remand.
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