Import of Rough Marble Slabs @$.60.00.SqM

[Hamid Syed]

The Import Policy permits the import of rough marbles slabs, if the cif price of the Marble is $.60 Per sq.meter or above.

We have imported those slabs, but after the import was done after making the payment of duty, we realised that the marble slabs are not upto the mark and we wanted a discount in the rates from the exporter, who agreed to give us a rebate of $.10.00 per sq.meter and gave us a credit note for the full quantity of the marble slabs.

Can anybody tell us if it is in violation of any of the laws. We are not going to claim any refund of duty on account of this rebate.

Thanks/Regards/Syed Hamid

 

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

AI Summary

Import valuation compliance: post import exporter rebate and credit note raise issues about customs valuation and duty adjustment. Import policy permits rough marble slabs only if the CIF price meets the prescribed per square meter threshold. The importer paid duties at import, then accepted a post import rebate from the exporter via a credit note reducing the transaction price, and does not intend to claim any duty refund. The key legal issue is whether receiving such a rebate and issuing a credit note, without seeking duty adjustment, violates customs, Exim, or SEZ rules on import valuation, declaration, or post import price changes.