Valuation of imported goods - contemporaneous data of imports - ...

Court Rules Exchange Rate Confusion Invalidates Re-Determination of Import Value u/r 5; Transaction Value Reinstated.

December 31, 2022

Case Laws Customs AT

Valuation of imported goods - contemporaneous data of imports - rejection of declared value - the assessable value in these Bills of Entry were given in Rupees whereas the declared values in the Bill of Entry are in US dollars. It is not clear of what rate of exchange is applied to convert rupees into dollars to re-determine the assessable value under Rule 5. - The rejection of the transaction value by the Deputy Commissioner is not in accordance with law. Consequently, its re-determination under Rule 5 cannot also sustain - AT

View Source

← Previous Next →

Valuation of imported goods - contemporaneous data of imports - ...

Court Rules Exchange Rate Confusion Invalidates Re-Determination of Import Value u/r 5; Transaction Value Reinstated.

December 31, 2022

Case Laws Customs AT

You may also like:

Impugned show cause notice for shortfall in service tax payment based on Rule 5(1) of Service Tax (Determination of Value) Rules, 2006 quashed as ultra vires Section 67...

CESTAT set aside the order rejecting the declared value of imported cloves from Indonesia/Tanzania. While the importer failed to furnish evidence supporting lower...

Valuation of goods - old and used self-propelled platform supply vessel Sagar Fortune - The justification offered for invoking rule 12 of Customs Valuation...

Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values...

Valuation of imported goods - PVC sheeting - rejection of declared value - rule 7 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 requires...

Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable...

The case pertains to the valuation of imported porcelain vitrified tiles. The key points are: The assessment attained finality, but the appellant has the legal right to...

Undervaluation of the imported goods - Rejection of transaction value - Having rejected the declared assessable value under Rule 12, the department sought to...

Valuation of imported goods - aircraft engine - vehicle expressly imported for a limited period and for ‘stop gap’ fitment during the overhaul of the regular engines by...

Import by EOU/EHTP/STP/BTP without payment of duty by Following Rule 5 of Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017

Valuation of imported goods - The only ground on the basis of which the transaction value has been rejected is that the imports were made at a higher price by other...

The case pertains to the rejection of self-assessed value of imported aluminium scrap and determination of the method for valuation. The key points are: rejection of the...

Valuation of imported goods - Inclusion of lump sum and periodical patent and technology know how fee paid - The Tribunal analyzed the provisions of Rule 10 (1) (c) of...

The applicant purchases second-hand gold or diamond jewelry from unregistered individuals, melts and transforms them into new pieces, altering their nature and...

Validity of Re-determination of Value - Goods have already been cleared from the port of import after examination and enhancement of value - The Appellate Tribunal found...

Quick Updates: