https://www.taxtmi.com/caselaws?id=380199 Customs duty on liquid bulk cargo is chargeable only on the quantity actually imported, because the taxable event is completion of import and valuation must correspond to the time and place of importation. Where goods are lost, pilfered, or destroyed before import is complete, duty does not attach to that lost quantity. An earlier circular treating bill of lading quantity as determinative was inconsistent with this statutory scheme. The same principle applies to both specific-rate and ad valorem duties, so assessment must be based on the shore tank receipt quantity in India rather than the bill of lading quantity. en-us Mon, 11 Mar 2019 00:00:00 +0530 Thu, 16 May 2019 07:45:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380199 Customs duty on liquid bulk cargo is chargeable only on the quantity actually imported, because the taxable event is completion of import and valuation must correspond to the time and place of importation. Where goods are lost, pilfered, or destroyed before import is complete, duty does not attach to that lost quantity. An earlier circular treating bill of lading quantity as determinative was inconsistent with this statutory scheme. The same principle applies to both specific-rate and ad valorem duties, so assessment must be based on the shore tank receipt quantity in India rather than the bill of lading quantity. Case-Laws Customs Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380199