https://www.taxtmi.com/caselaws?id=115182 The Appellate Tribunal CESTAT, CHENNAI allowed the appeals filed by the Revenue concerning the applicability of exchange rates under Section 14 of the Customs Act, 1962. The Tribunal held that the commission paid to the Indian agent should be considered part of the total price for imported goods and subject to the exchange rate in force on the date of Bill of Entry presentation. It rejected arguments that Section 14(1) does not apply to Customs Valuation Rules, emphasizing alignment with GATT provisions. The impugned order was set aside, ruling in favor of the Revenue. en-us Tue, 25 Jan 2005 00:00:00 +0530 Thu, 24 May 2012 15:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115182 The Appellate Tribunal CESTAT, CHENNAI allowed the appeals filed by the Revenue concerning the applicability of exchange rates under Section 14 of the Customs Act, 1962. The Tribunal held that the commission paid to the Indian agent should be considered part of the total price for imported goods and subject to the exchange rate in force on the date of Bill of Entry presentation. It rejected arguments that Section 14(1) does not apply to Customs Valuation Rules, emphasizing alignment with GATT provisions. The impugned order was set aside, ruling in favor of the Revenue. Case-Laws Customs Tue, 25 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115182