https://www.taxtmi.com/caselaws?id=74947 Imported PVC sheets were treated as floor coverings because the certificate of origin, test report and surrounding circumstances showed their commercial identity and use as finished consumer goods, making import under the REP licence invalid and attracting confiscation under the customs import-control regime. The declared invoice value was also rejected because it was inconsistent with contemporaneous market conditions and comparable imports of similar goods from the same region and period, justifying re-determination of assessable value under customs valuation principles. Limited relief was given only by reducing the redemption fine and penalty. en-us Thu, 06 Jul 1989 00:00:00 +0530 Mon, 13 Jun 2011 15:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74947 Imported PVC sheets were treated as floor coverings because the certificate of origin, test report and surrounding circumstances showed their commercial identity and use as finished consumer goods, making import under the REP licence invalid and attracting confiscation under the customs import-control regime. The declared invoice value was also rejected because it was inconsistent with contemporaneous market conditions and comparable imports of similar goods from the same region and period, justifying re-determination of assessable value under customs valuation principles. Limited relief was given only by reducing the redemption fine and penalty. Case-Laws Customs Thu, 06 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74947