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TMI BlogValuation of imported goodsX X X X Extracts X X X X X X X X Extracts X X X X ..... Valuation of imported goods X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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. Reply By Shilpi Jain: The Reply: Query is not very clear. Howev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er, under Customs also the department has to first reject the valuation adopted and then apply the valuation rules in sequential manner to arrive at the taxable value. They cannot adopt any means as such to value the imported goods. Reply By raghunandhaanan rvi: The Reply: Sir, Generally, the customs department may reject the declared value if they have evidence of contemporaneous imports or ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terial evidence to charge of undervaluation. If you disagree with the decision of the department on the value enhancement and charge of undervaluation, you may insist issuance of speaking order and appeal against it before the appellate forum. In the meantime, you may request the department to allow clearance of goods provisionally subject to execution of PD bond with a bank guarantee for dispute ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d duty value. This is my view. X X X X Extracts X X X X X X X X Extracts X X X X
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