TMI Blog2019 (2) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... The issue as to whether import is free or prohibited will have to be necessarily decided based on the situation prevailing on the date of placing of the order or raising of invoice. Due to exchange rate fluctuation, CIF value had fallen below to ₹ 500/- per kg in this case. But, in invoice, CIF was above ₹ 500/- per kg - therefore, the import must be considered as free in this case. The respondents are directed to assess the Bill of Entry and allow the release of goods in question, after following the usual formalities - petition allowed - decided in favor of petitioner. - W.P.(MD)No.2264 of 2019 - - - Dated:- 1-2-2019 - Mr. Justice G.R. Swaminathan For the Petitioner : Mr.A.K.Jayaraj For the Respondents : Mr.R. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id Notification No.53/2015-2020 dated 21.03.2018 and declined to release the goods. The stand of the respondents is assailed in this writ petition. 3. Heard the learned counsel appearing for the petitioner as well as the learned Standing Counsel appearing for the officials. 4. The learned counsel appearing for the petitioner stated that he would be satisfied if this Court directs the authorities to round off the figure in terms of Section 154 A of the Customs Act, 1962. Section 154 A of the Customs Act reads as follows: 154A Rounding off of duty, etc.: - The amount of duty, interest, penalty, fine or any other sum payable, and the amount of refund, drawback or any other sum due, under the provisions of this Act, shall be rounded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there must be certainty in these transactions. Therefore, the position that prevails on the date of raising of invoice alone will be the basis for determination. 8. Of course, as rightly conceded by the learned counsel on either side, as regards the rate of duty, the position that obtains on the date of filing of Bill of Entry alone will prevail. But then, the issue as to whether import is free or prohibited will have to be necessarily decided based on the situation prevailing on the date of placing of the order or raising of invoice. Due to exchange rate fluctuation, CIF value had fallen below to ₹ 500/- per kg in this case. But, in invoice, CIF was above ₹ 500/- per kg. Therefore, I hold that the import must be considered ..... X X X X Extracts X X X X X X X X Extracts X X X X
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