Invoice price governs assessable value for bulk liquid cargo under ad valorem duty, not shore tank measurement.

Bulk liquid cargo imported on an ad valorem duty basis is to be assessed on invoice price, not on shore tank measurement, where the Board circular so provides. The circular treats invoice value as the proper assessable value for bulk liquid cargo even if quantity is ascertained through shore tank receipt or out-turn report. The lower appellate authority also relied on precedent and noted that the importer had paid the supplier in full without claiming compensation for short supply, supporting invoice value as the assessment basis. The Tribunal record reflects that the issue was accepted as covered against the appellant, and assessment on invoice price was upheld.

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Issues: Whether the assessable value of imported bulk liquid cargo was required to be based on the invoice price under the Board circular, rather than on the quantity ascertained through shore tank measurement.

Analysis: The assessment had been provisionally made on the basis of shore tank receipt and out-turn report, but the Board circular clarified that where customs duty is leviable on an ad valorem basis, bulk liquid cargo is to be assessed on the invoice price irrespective of quantity measured by shore tank or other means. The lower appellate authority treated the issue as settled by precedent and held that where the importer had paid the supplier in full without claiming compensation for short supply, the invoice value was the proper basis for assessment. The appellant accepted that the issue was covered against it by the Tribunal decision and the circular.

Conclusion: The appeal was not maintainable on merits and the assessment based on invoice price was upheld.

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