https://www.taxtmi.com/caselaws?id=161603 Customs duty that was not payable when imported capital goods and raw materials entered the municipal octroi limits could not be included in the goods' value for octroi assessment. The valuation rules tied assessable value to cost price plus duties and incidental charges actually payable or incurred at the time of arrival, so a contingent or future customs liability could not be notionally added merely because exemption conditions might later be breached. The HC followed the Bombay High Court's approach and held that the customs duty component was not includible for octroi purposes; the municipal corporation could not levy or recover octroi on that component, and reassessment and refund of excess collection were directed. en-us Thu, 16 Oct 2003 00:00:00 +0530 Sat, 01 Feb 2014 16:42:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161603 Customs duty that was not payable when imported capital goods and raw materials entered the municipal octroi limits could not be included in the goods' value for octroi assessment. The valuation rules tied assessable value to cost price plus duties and incidental charges actually payable or incurred at the time of arrival, so a contingent or future customs liability could not be notionally added merely because exemption conditions might later be breached. The HC followed the Bombay High Court's approach and held that the customs duty component was not includible for octroi purposes; the municipal corporation could not levy or recover octroi on that component, and reassessment and refund of excess collection were directed. Case-Laws VAT and Sales Tax Thu, 16 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161603