https://www.taxtmi.com/caselaws?id=408029 The Tribunal ruled that the valuation of remnant Aviation Turbine Fuel (ATF) should not include transportation costs under Rule 10(2) of the Customs Valuation Rules, 2007, as these costs are not actually incurred. It emphasized that the transaction value under Section 14(1) of the Customs Act, 1962, should reflect only the price paid or payable, excluding notional costs. The Tribunal upheld previous decisions, including InterGlobe Aviation Limited, affirming that remnant ATF is not transported as cargo, thus no transportation cost should be added to its value. en-us Tue, 25 May 2021 00:00:00 +0530 Tue, 21 Nov 2023 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408029 The Tribunal ruled that the valuation of remnant Aviation Turbine Fuel (ATF) should not include transportation costs under Rule 10(2) of the Customs Valuation Rules, 2007, as these costs are not actually incurred. It emphasized that the transaction value under Section 14(1) of the Customs Act, 1962, should reflect only the price paid or payable, excluding notional costs. The Tribunal upheld previous decisions, including InterGlobe Aviation Limited, affirming that remnant ATF is not transported as cargo, thus no transportation cost should be added to its value. Case-Laws Customs Tue, 25 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408029