https://www.taxtmi.com/caselaws?id=375067 The court ruled in favor of the importer of spices in a case concerning the clearance of Black Pepper. The court held that the CIF value on the date of the commercial invoice should govern import clearance, not the value on the date of filing the Bill of Entry. Despite the CIF value falling below the specified amount due to exchange rate fluctuations, as long as the value was above the threshold on the invoice date, the import should be considered valid. The court directed the respondents to assess the Bill of Entry and release the goods accordingly, resolving the matter in favor of the petitioner. en-us Fri, 01 Feb 2019 00:00:00 +0530 Wed, 19 Jun 2019 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375067 The court ruled in favor of the importer of spices in a case concerning the clearance of Black Pepper. The court held that the CIF value on the date of the commercial invoice should govern import clearance, not the value on the date of filing the Bill of Entry. Despite the CIF value falling below the specified amount due to exchange rate fluctuations, as long as the value was above the threshold on the invoice date, the import should be considered valid. The court directed the respondents to assess the Bill of Entry and release the goods accordingly, resolving the matter in favor of the petitioner. Case-Laws Customs Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375067