Bill of Entry date governs customs duty and exchange rate; prior seizure alone does not defeat the importer's benefit.

For customs valuation and duty purposes, the decisive date is the date of presentation of the Bill of Entry under Sections 14, 15 and 46 of the Customs Act. Prior seizure of the goods does not by itself extinguish the importer's title or prevent presentation of the Bill of Entry, so the importer remains entitled to the exchange rate and duty rate prevailing on that date. The position would differ only where the goods have been confiscated and the redemption period has expired; on the stated facts, the favourable rate was held admissible and consequential relief followed.

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Issues: Whether the appellant was entitled to the exchange rate and rate of duty prevailing on the date of presentation of the Bill of Entry, notwithstanding that the goods had already been seized.

Analysis: The relevant consideration under Sections 14, 15 and 46 of the Customs Act is the date on which the Bill of Entry is presented. Seizure of the goods did not extinguish the importer's title or take away the right to present the Bill of Entry. The position would be different only if the goods had been confiscated and the period for redemption had expired.

Conclusion: The benefit of the exchange rate and rate of duty prevailing on 16-11-1988 was admissible to the importer, and the contrary finding was set aside.

Final Conclusion: The appeal succeeded and the importer obtained consequential relief.

Ratio Decidendi: For customs valuation and duty purposes, the decisive date is the date of presentation of the Bill of Entry, and prior seizure of the goods does not by itself deprive the importer of the applicable rate or exchange benefit.

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