TMI Blog2000 (8) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... onal penalty of Rs. 25,000.00 has also been imposed on the appellant. 2. Arguing on the appeal, Shri Sudhir Mehta, learned Advocate, submits that the appellant had imported 18 packages (625.50 Kgs.) of Glass Stones from Hong Kong at the Invoice Price of US $ 11.10 per Kg. (total Invoice Price of US $ 6255). A bill of entry was filed by the appellant and the total duty was assessed to the tune of Rs. 2,10,261.25 which they paid. However, the imported goods were not released to them, but was seized by the Customs Authorities. Thereafter, enquiries were conducted and a show cause notice was issued to them proposing enhancement in the assessable value of the goods; confiscation of the items and imposition of personal penalty upon the appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in question. Shri Mehta argues that such documents cannot be made the basis for arriving at a conclusion against them in terms of the Supreme Court's decision in the case of Collector of Central Excise, Bombay v. East Punjab Traders reported in 1997 (89) E.L.T. 11 (S.C.). As such, he submits that the value declared by them in their invoice is the correct assessable value. 3. As regards the licencing angle, he submits that the Commissioner has observed that the appellant has declared the goods i.e. Glass Stones, whereas the Jem Testing Laboratory at Geological Survey of India has identified the goods as artificial Glass which item is not covered by GEM REP Licences. He, however, submits that the adjudicating authority has ignored the poi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decision in the case of East [Punjab) Traders relied upon by the learned Advocate. We also note that the appellant's request to get the goods valued from the approved Valuer was accepted by the adjudicating authority. The Valuation Report shows the market-value of the goods to the tune of around Rs. 6.22 lakhs. After deducting the cost of importation and profit margin to the tune of 10% and 20%, Landed Cost of the goods comes to around Rs. 4.38 lakhs. As such, after deducting the duty-element of 60% from the said amount, the assessable value comes to around Rs. 2.73 lakhs which is at par the value declared by the appellant in their bill of entry and the value as reflected in the invoice. The Commissioner has invoked Rule 8 after observing ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
