Final assessment of bills of entry - Reduction in price after negotiation - import of Steam (Non-coking)...

Final assessment of bills of entry - Reduction in price after negotiation - import of Steam (Non-coking) Coal in bulk - Section 14 of the Customs Act, 1962 also talks of the price which is either paid or payable to the seller. In such situation it will be improper if importer is asked to pay customs duty on an amount more than what was the consideration for the transaction. The actual transaction value paid is required to be accepted for assessment purpose, particularly when the genuineness of the reduction is not under dispute. - AT .....

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