Import licence interpretation and customs valuation: tapes on hubs fell within "all forms" and invoice value was accepted.

Video magnetic tapes imported on hubs were held to fall within a licence covering video magnetic tape in rolls, pan cakes, jumbo rolls, reels and all forms, because the words "all forms" were given their ordinary meaning and no restriction from another appendix could be read into the licence. The import was therefore treated as authorised. On valuation, enhanced assessable value based on comparable imports was rejected because the cited comparables related to tapes on pancakes, the imported goods were on hubs, contemporaneous materials showed a declining price trend, and the gap between invoice and assessed value was small. The invoice value was accepted and consequential relief followed.

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Issues: (i) whether the import of video magnetic tapes on hubs was covered by the import licence describing the goods as video magnetic tape in rolls, pan cakes, jumbo rolls, reels and all forms excluding video cassettes; and (ii) whether the enhanced assessable value based on comparable imports was justified.

Issue (i): whether the import of video magnetic tapes on hubs was covered by the import licence describing the goods as video magnetic tape in rolls, pan cakes, jumbo rolls, reels and all forms excluding video cassettes.

Analysis: The licence was read as covering video magnetic tapes in all forms. There was no warrant to import the restrictions of a different appendix into the licence so as to exclude goods otherwise falling within the licence description. The expression "all forms" was given its ordinary meaning.

Conclusion: The import was validly covered by the licence and was not unauthorised.

Issue (ii): whether the enhanced assessable value based on comparable imports was justified.

Analysis: The relied-upon comparable imports were of tapes on pancakes, whereas the imported goods were tapes on hubs. The contemporaneous materials also showed a declining price trend during the relevant period, and the difference between invoice price and assessed price was small. In these circumstances, the invoice value was accepted.

Conclusion: The enhanced valuation was not justified and the invoice value was accepted.

Final Conclusion: The order on both import control and valuation was set aside and the importer obtained consequential relief.

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