CESTAT partially allowed the appeal, upholding the inclusion of ...

Metal Lease Charges and Insurance Premiums Included in Assessable Value, Extended Limitation Period Overturned

May 16, 2025

Case Laws Customs AT

CESTAT partially allowed the appeal, upholding the inclusion of metal lease charges and insurance premium in assessable value. The tribunal set aside the extended period of limitation and penalty under section 114A of Customs Act. The appellant's claim for refund was rejected, with the Principal Commissioner's findings deemed legally valid. The decision affirmed that insurance premium constituted a condition of sale and metal lease charges were not considered interest. The tribunal found no willful suppression of facts by the importer, who had consistently paid excess customs duty based on actual gold content in invoices.

View Source

← Previous Next →

CESTAT partially allowed the appeal, upholding the inclusion of ...

Metal Lease Charges and Insurance Premiums Included in Assessable Value, Extended Limitation Period Overturned

May 16, 2025

Case Laws Customs AT

You may also like:

The issue pertained to the inclusion of demurrage charges in the assessable value for payment of customs duty under the Customs Valuation (Determination of Value of...

Valuation of imported goods - includibility - Pull Buck Tug Charges, Tug/Launch Charges, and Port Tonnage Charges - these charges are not to be included in the...

The circular clarifies the treatment of input tax credit in relation to life insurance premiums not included in taxable value. The circular explains that such premiums...

Valuation of goods - Whether the pre-delivery inspection charges and after sales service charges are to be included in the assessable value - PDI charges and free ASS...

Freight charges shown separately in invoices for excisable goods, as per agreements with buyers, are not includible in the assessable value for excise duty, irrespective...

GST Council's 53rd meeting recommendations led to amendments in Schedule III of CGST Act, clarifying two key insurance transactions. First, co-insurance premium...

Computation of assessable value - integration and commissioning charges of the machines cannot be included in the transaction/assessable value of the machines. - AT

Valuation of goods - dharmada charges are includible in the assessable value - transit insurance charges and freight charges are not includible - AT

Assessable value - whether inspection charges with respect to a specific inspection of the buyer is required to be added to the assessable value? - pre-delivery...

Exemption from GST - upfront amount charged by the Applicant (as lease premium) for granting long-term lease of ninety years - The AAR concludes that long-term leases...

Assessable value – As per Rule 5 of the Central Excise (Valuation) Rules, 2000, the transportation charges shown separately in the invoice or charge separately are not...

Liability of pay GST - lease renewal amount - premium on lease renewal - The applicant is liable to pay GST under Reverse Charge Mechanism (RCM) for lease renewal amount...

Valuation - C&F agent service - inclusion of reimbursement of expenses - charges collected for activities like loading, unloading, etc are includable in the assessable...

Valuation - the amortisation cost of modification charges of the dies has to be included in the assessable value of the goods manufactured with the help of such...

Rejection of refund claim - amount paid under protest - tax has been included in the gross amount collected as insurance premium or not - The computation of premium is a...

Quick Updates: