Valuation of bunker supplies: provisional assessments must use transaction value or valuation rules; HPCL price as fallback. Conversion of vessels between foreign-run and coastal-run requires Customs duty assessment on ship stores consumed; provisional assessment should use transaction value where bunker receipts exist, otherwise apply Customs Valuation Rules sequentially from Rules 4 to 9 with HPCL export sale price used only as a last resort; disputes invoke principles of natural justice. Quantification follows Board Circular No. 58/1997 and finalisation of Bills of Entry must occur promptly after receipt of reversion documents.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation of bunker supplies: provisional assessments must use transaction value or valuation rules; HPCL price as fallback.
Conversion of vessels between foreign-run and coastal-run requires Customs duty assessment on ship stores consumed; provisional assessment should use transaction value where bunker receipts exist, otherwise apply Customs Valuation Rules sequentially from Rules 4 to 9 with HPCL export sale price used only as a last resort; disputes invoke principles of natural justice. Quantification follows Board Circular No. 58/1997 and finalisation of Bills of Entry must occur promptly after receipt of reversion documents.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
