https://www.taxtmi.com/caselaws?id=442956 The Tribunal, following a Supreme Court precedent, ruled that Customs duty should be calculated based on the actual oil quantity physically received into the shore tank, rather than the quantity indicated on invoices or bills of lading. The inclusion of freight and insurance in the value of goods for duty calculation was not elaborated upon. Regarding the levy of interest under Section 18(3) of the Customs Act, the Commissioner (Appeals) held that the interest was not applicable due to the insertion of the provision after the relevant import period. As a result, the Tribunal allowed the appeals and set aside the interest levy. en-us Tue, 12 Sep 2023 00:00:00 +0530 Thu, 14 Sep 2023 08:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442956 The Tribunal, following a Supreme Court precedent, ruled that Customs duty should be calculated based on the actual oil quantity physically received into the shore tank, rather than the quantity indicated on invoices or bills of lading. The inclusion of freight and insurance in the value of goods for duty calculation was not elaborated upon. Regarding the levy of interest under Section 18(3) of the Customs Act, the Commissioner (Appeals) held that the interest was not applicable due to the insertion of the provision after the relevant import period. As a result, the Tribunal allowed the appeals and set aside the interest levy. Case-Laws Customs Tue, 12 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442956