Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Rejection of declared transaction value is warranted where a portion of consideration is paid outside banking channels, vitiating the invoice price and permitting valuation under the residual method by adding undeclared consideration; consequence: assessable value increased. Deliberate non-disclosure of consideration constitutes willful misstatement and suppression, justifying invocation of the extended limitation period and assessment of differential duty with statutory interest. Admissions and enforcement agency findings permit corroborative use of such material. Deliberate undervaluation attracts mandatory penalty for collusion or suppression, quantified to include interest, and mis-declaration exposing goods to confiscation with no redemption where goods are unavailable.
Rejection of declared transaction value is warranted where a portion of consideration is paid outside banking channels, vitiating the invoice price and permitting valuation under the residual method by adding undeclared consideration; consequence: assessable value increased. Deliberate non-disclosure of consideration constitutes willful misstatement and suppression, justifying invocation of the extended limitation period and assessment of differential duty with statutory interest. Admissions and enforcement agency findings permit corroborative use of such material. Deliberate undervaluation attracts mandatory penalty for collusion or suppression, quantified to include interest, and mis-declaration exposing goods to confiscation with no redemption where goods are unavailable.
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