Home Forum Goods and Services Tax - GST Month 12 2021 2021 (12) This
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Valuation of imported goods - Goods and Services Tax - GSTExtract Sir/ Madam An importer imports motor scrap containing for example 10% copper. Now department calculation value of imported scrap by mathematical calculation for examples total Value with taxes/ total weight *10% which comes about ₹ 300/kg as purchase cost whereas party selling the said copper after extracting from motors and using manpower at the rate of Rs. about 150/ kgs. In this process the ITC is also getting accumulated. Is department can make a case of under valuation of goods ? Please enlight all angles from party and department side.
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