TMI Blog2018 (4) TMI 1436X X X X Extracts X X X X X X X X Extracts X X X X ..... ard Circular of 1964 is not applicable for such cars. VAT refund in the foreign country - Held that: - the plea is not acceptable as maximum allowable depreciation of 70% has been given, which is as per the Board Circular of 1993 - Besides, the VAT refund for a car more than 7 years old does not make sense. Miscellaneous charges - Held that: - those charges are meant for cost of transportation, loading/unloading and handling charges upto importation. Inland Haulage Charges within India of about ₹ 45000/- - Held that: - deduction not tenable because these charges have not been included in the charge. Dealer’s margin - Held that: - the question of considering such margin can be there for a new car and not for a used car. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... minus depreciation @70% in terms of Board s Circular No. 493/124/86-Cus.VI dt. 19.11.87) and after including miscellaneous charges of US$ 663.20 in the assessable value with basic custom duty @100% after ignoring appellant s claim for allowing the benefit of VAT and Trade Discount. The value declared by the appellant was rejected in terms of Rule 12 of Custom Valuation Rules 2007 and the assessable value was enhanced to ₹ 1432639.23. The duty of ₹ 24,85,202/- was determined to be payable. On appeal, the Commissioner (Appeals) set aside the order and directed assessment to be done on FOB value of US$ 15820 after including other charges of US$ 663.20. The contention for excluding loan amount, sale tax etc. was accepted. The appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity, the appellant produced the dealer invoice. The first appellate authority, on the basis of the said invoice produced by the appellant, had allowed the depreciation of 70% as the said vehicle was more than four years old. Admittedly, the maximum permissible depreciation of 70% has been allowed in the terms of Board Circular of 1993. The appellant s contention is that trade discount, allowance for VAT refund and for inland haulage charges should also be deducted from the price. The basis for trade discount is 1964 Circular of the Board. On reading of the Circular F.N. 3/23/62-Cus-VI dt. 21.01.1964, we find that the trade discount is meant for the motor cars, which are directly imported from a foreign country by passengers, diplomats and f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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