Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (10) TMI 602 - CESTAT AHMEDABAD

2015 (10) TMI 602 - CESTAT AHMEDABAD - 2015 (325) E.L.T. 881 (Tri. - Ahmd.) - Reduction in value of goods in subsequent MoA Demand of differential duty Value as vessel was reduced as subsequent MoA, after conducting survey Adjudicating Authority assessed Bill of Entry on amount available at time of importation and confirmed demand of differential duty alongwith interest Commissioner (A) upheld adjudicating order and dismissed appeal filed by appellant Held that:- value available at tim .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Appn No. C/EXTN(MA)/16397/2014] - ORDER No. A/10746 / 2015 - Dated:- 11-5-2015 - Mr. P.K. Das and Mr. H.K. Thakur, JJ. For The Applicant : Shri Hardik Modh, Advocate For The Respondent : Shri S K Shukla, Authorised Representative Per : Mr. P.K.Das; The relevant facts of the case, in brief, are that one M/s Madhav Industrial Corporation, Bhavnagar imported an old vessel M V Dimitriy Mendeleev for a consideration of US $ 9,54,044/- under Memorandum of Agreement (MoA) dated 26.4.2001. The Customs O .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

arrived on 30.4.2001 would be accepted and there is no reason to consider the value as per second MoA on 3.5.2001, as it was finalised after importation. The Adjudicating Authority finally assessed the Bill of Entry No SBY/22/2001-2002 dtd 8.5.2001 and confirmed the demand of differential duty of ₹ 13,82,097.00 alongwith interest. The Commissioner (Appeals) upheld the adjudicating order and dismissed the appeal filed by the appellant. 3. The Learned Advocate on behalf of the appellant dre .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ot be sustained. He particularly submits the Hon ble Supreme Court in the case of Chaudhary Ship Breakers Vs CC Ahmedabad - 2010.259.ELT.161(SC) on the identical situation held that price actually paid or payable acceptable as transaction value. He also relied upon the decision of the Tribunal in the case of Jai Jagdish Ship Breakers Pvt Ltd Vs CC., Jamnagar -2004.177.ELT.928 (Tri. Del.) held that value mentioned in the addendum of MoA cannot be rejected. 4. On the other hand, the Learned Author .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ase of Commissioner of Customs, Bhavnagar, Vs. Lucky Steel and others - 2007(02)LCX0429. He also filed compilation of case laws. 5. After hearing both the sides and on perusal of records, we find that M/s Madhav Industrial Corporation entered into agreement with the foreign seller by MoA dated 26.4.2001 to purchase the old Vessel for a consideration of US $ 9,54,044/- and the vessel was arrived on 30.4.2001. After importation of the goods, the foreign seller sold the goods to the appellant as pe .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

.5.2001. The appellant filed the Bill of Entry on 8.5.2001. We agree with the submission of the Learned Authorised Representative or the Revenue that the transaction value would be, as declared at time of importation of goods. Hence, the Adjudicating Authority rightly determined the value of US $ 9,54,044/- as per first MoA. The Larger Bench of the Tribunal in the case of Lucky Steel Industries and others (supra) has held that the price mutually agreed upon by the parties at time of import will .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the purpose of determining assessable value under Section 14 of the Customs Act, 1962. However, if there is any variation in price after the date of import the same shall not be relevant for the purpose of determining assessable value under Customs Act unless the reduction is on account of facts that the goods are not the ones which have been contracted for or that there has been serious breach of the terms of the contract which makes the contract void/voidable. In the latter case the new/ redu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version