https://www.taxtmi.com/caselaws?id=368366 The Tribunal remanded the case involving mis-declaration of value in an imported consignment of cooling pads. The appellant importer's declared value was found to be mis-declared, leading to the department enhancing the value. The appellant challenged the application of Customs Valuation Rule 5 and emphasized negotiations with the foreign supplier for a lower price. The Tribunal upheld the rejection of the declared value but directed the use of the lower range of contemporaneous import prices for valuation. The matter was remanded for redetermination of customs duty at a value of &8377; 180 per kg instead of &8377; 220 per kg, emphasizing correct valuation principles and legal precedents. en-us Thu, 04 Oct 2018 00:00:00 +0530 Mon, 08 Oct 2018 07:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368366 The Tribunal remanded the case involving mis-declaration of value in an imported consignment of cooling pads. The appellant importer's declared value was found to be mis-declared, leading to the department enhancing the value. The appellant challenged the application of Customs Valuation Rule 5 and emphasized negotiations with the foreign supplier for a lower price. The Tribunal upheld the rejection of the declared value but directed the use of the lower range of contemporaneous import prices for valuation. The matter was remanded for redetermination of customs duty at a value of &8377; 180 per kg instead of &8377; 220 per kg, emphasizing correct valuation principles and legal precedents. Case-Laws Customs Thu, 04 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368366