TMI Blog2007 (4) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... is case is about the assessable value of a 1993 model Rolls Royce car imported by the appellant in 1996. The Bill of Entry of the car was filed at the customs barrier by the appellant on 31-8-1996. The dispute is about the question whether depreciation should be allowed on the car for the purpose of valuation for the post import period. 3.Under Section 14 of the Customs Act, 1962 (hereinafter referred to as 'the Act'), the valuation of the car must be based on the price at the time of the import of the goods. Section 15 of the Act makes it clear that the rate of duty and tariff valuation has to be determined on the date on which the Bill of Entry in respect of such goods is presented under Section 46 of the Act vide M/s. Shah Devchand C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Section 46; (23)"import' with its grammatical variations and cognate expressions, means bringing into India from a place outside India; (26)'importer' in relation to any goods at any time between their importation and the time when they are cleared for home consumption, includes any owner or any person holding himself out to be the importer; (40)'tariff value' in relation to any goods, means the tariff value fixed in respect thereof under sub-section (2) of Section 14; (41)'value' in relation to any goods, means the value thereof determined in accordance with the provisions of sub-section (1) of Section 14. 14.Valuation of goods for purposes of assessment : (1)For the purposes of the Customs Tariff Act, 1975 (51 of 1975), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the purposes of this Section - (a) "rate of exchange' means the rate of exchange - (i) determined by the Board, or (ii) ascertained in such manner as the Board may direct, for the conversion of Indian currency into foreign currency [or foreign currency] into Indian currency; (b)"foreign currency' and 'Indian currency' have the meanings respectively assigned to them in clause (m) and clause (q) of Section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999). 15.Date of determination of rate of duty and tariff valuation of imported goods : (1)The rate of duty and tariff valuation, if any, applicable to any imported goods, shall be the rate and valuation in force - (a) in the case of goods entered fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of importation. If any amount is to be paid after the importation of the goods is complete, inter alia by way of transfer of licence or technical know-how for the purpose of setting up of a plant from the machinery imported or running thereof, the same would not be computed for the said purpose. Any amount paid for post-importation service or activity, would not, therefore, come within the purview of determination of assessable value of the imported goods so as to enable the authorities to levy customs duty or otherwise. The Rules have been framed for the purpose of carrying out the provisions of the Act. The wordings of Sections 14 and 14(1A) are clear and explicit. The Rules and the Act, therefore, must be construed, having regard to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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