https://www.taxtmi.com/caselaws?id=354607 The Appellate Tribunal CESTAT Chennai ruled in a customs valuation dispute, limiting freight costs to 20% of the FOB value for calculating differential duty liability. The Tribunal reduced the redemption fine to Rs.1,00,000 and the penalty to Rs.50,000 due to lower duty liability and lack of market value research. The appeal was partly allowed, favoring the appellant with adjustments made in accordance with the law, and remanded the matter to the original authority for further proceedings. en-us Wed, 01 Nov 2017 00:00:00 +0530 Fri, 01 Mar 2019 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354607 The Appellate Tribunal CESTAT Chennai ruled in a customs valuation dispute, limiting freight costs to 20% of the FOB value for calculating differential duty liability. The Tribunal reduced the redemption fine to Rs.1,00,000 and the penalty to Rs.50,000 due to lower duty liability and lack of market value research. The appeal was partly allowed, favoring the appellant with adjustments made in accordance with the law, and remanded the matter to the original authority for further proceedings. Case-Laws Customs Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354607