https://www.taxtmi.com/article/detailed?id=9704 The core question is whether auction expenses and freight must be deducted before computing the cum duty valuation of goods sold under Section 150. The author argues the statutory sequence treats sale expenses and freight as abatements to be deducted prior to duty calculation, contending that Circular No. 71/2001, which directs taking total sale proceeds as the cum duty price, exceeds the statute. Where duty is recomputed after such error, refunds and interest follow under the statutory refund mechanism. en-us Mon, 08 Mar 2021 09:28:18 +0530 Mon, 08 Mar 2021 09:28:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9704 The core question is whether auction expenses and freight must be deducted before computing the cum duty valuation of goods sold under Section 150. The author argues the statutory sequence treats sale expenses and freight as abatements to be deducted prior to duty calculation, contending that Circular No. 71/2001, which directs taking total sale proceeds as the cum duty price, exceeds the statute. Where duty is recomputed after such error, refunds and interest follow under the statutory refund mechanism. Articles Customs - Import - Export - SEZ Mon, 08 Mar 2021 09:28:18 +0530 https://www.taxtmi.com/article/detailed?id=9704