https://www.taxtmi.com/caselaws?id=263577 The Court ruled that the quantity of crude oil received in the shore tanks in India should be the basis for payment of customs duty, rejecting the argument to base it on the bill of lading quantity. The Court emphasized that importation is complete only upon clearance for home consumption or deposit in a warehouse. It held that the circular mandating duty based on invoice price was contrary to statutory provisions. Consequently, the Tribunal's decision was set aside, and customs authorities were directed to act accordingly. en-us Wed, 02 Sep 2015 00:00:00 +0530 Wed, 30 Dec 2015 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263577 The Court ruled that the quantity of crude oil received in the shore tanks in India should be the basis for payment of customs duty, rejecting the argument to base it on the bill of lading quantity. The Court emphasized that importation is complete only upon clearance for home consumption or deposit in a warehouse. It held that the circular mandating duty based on invoice price was contrary to statutory provisions. Consequently, the Tribunal's decision was set aside, and customs authorities were directed to act accordingly. Case-Laws Customs Wed, 02 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263577