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2018 (10) TMI 332 - AT - CustomsValuation of import consignments - cooling pads - rejection of declared value - enhancement of assessable value on the basis of contemporaneous import price of similar / identical goods - Rule 5 of the Customs Valuation Rules - Held that:- The price of the consignment of cooling pads when imported by the appellant importer has been compared with the contemporaneous price of similar/ identical imports, it is also a matter of fact that during contemporary period, as it appears from the record of appeal that the importer has been confronted with contemporary import prices which were much higher than what has been declared by them on the Bill of Entry. Since the department had valid reasons for rejection of declared assessable value as per section 14 of the Customs Act, 1962 as same were found much lower than the contemporary prices of similar / identical goods, the importer was confronted with these facts and the importer has agreed for enhancement of the import price of their import consignment from ₹ 118/- to ₹ 220/- per kg. (which was average price of range of import price varying between ₹ 180 to ₹ 240/- per kg at the relevant time). Since the importer appellant at the time of import has agreed themselves for enhancement of the value of their consignment on the basis of contemporaneous import price, we hold that the price for enhancement ought to have been taken ₹ 180/- per kg. which was lowest range of contemporary price and not the average price of ₹ 220/- per kg. Matter remitted back to the original adjudicating authority for redetermination of the Customs duty taking the value of the import consignment at ₹ 180/- per kg. instead of ₹ 220/- kg. - appeal allowed by way of remand.
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