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of <h1>Madras High Court Rules Customs Duty on Raw Materials Increases Finished Product Prices u/s 27(2)(a.</h1> The Madras High Court, in the case involving the Collector of Customs and Indo-Swiss Synthetic Gem Manufacturing Co. Ltd., ruled that manufacturers will not exclude customs duty paid on raw materials from the price of finished products. The court held that Section 27(2)(a) of the Act does not support the Bombay High Court's view that a person who paid customs or excise duty is entitled to a refund if they have not 'directly' passed the duty's incidence to another person. This decision, favoring the Revenue, implies that the burden of duty on raw materials inevitably passes to consumers.
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