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Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final customs assessments.
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Final assessment of Bills of Entry cannot be reopened by rejecting the declared transaction value solely on Directorate of Valuation guidelines based on London Metal Exchange prices. The text states that such non-statutory guidelines cannot override the Customs Valuation Rules, and reassessment requires objectively sustainable grounds to doubt the declared value, supported by cogent corroborative material. In the absence of evidence that the declared value of imported aluminium scrap was incorrect, the reassessment was unsustainable. The resulting duty demand, interest and penalty were set aside, with consequential relief.
Final assessment of Bills of Entry cannot be reopened by rejecting the declared transaction value solely on Directorate of Valuation guidelines based on London Metal Exchange prices. The text states that such non-statutory guidelines cannot override the Customs Valuation Rules, and reassessment requires objectively sustainable grounds to doubt the declared value, supported by cogent corroborative material. In the absence of evidence that the declared value of imported aluminium scrap was incorrect, the reassessment was unsustainable. The resulting duty demand, interest and penalty were set aside, with consequential relief.
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