https://www.taxtmi.com/caselaws?id=444533 Imported bunker fuel lacking transaction value or comparable identical/similar goods must be valued under the residual method in Rule 9(1) of the Customs Valuation Rules, 2007, using a reasonable available Indian benchmark. The Tribunal accepted the IOCL selling price as the proper base in this factual setting. Freight, insurance and landing charges already embedded in that selling price could not be added again for customs valuation, as this would amount to double loading. The assessable value was therefore to be re-determined on the IOCL price without those further additions, with consequential refund relief admissible in accordance with law. en-us Tue, 10 Oct 2023 00:00:00 +0530 Wed, 18 Oct 2023 05:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444533 Imported bunker fuel lacking transaction value or comparable identical/similar goods must be valued under the residual method in Rule 9(1) of the Customs Valuation Rules, 2007, using a reasonable available Indian benchmark. The Tribunal accepted the IOCL selling price as the proper base in this factual setting. Freight, insurance and landing charges already embedded in that selling price could not be added again for customs valuation, as this would amount to double loading. The assessable value was therefore to be re-determined on the IOCL price without those further additions, with consequential refund relief admissible in accordance with law. Case-Laws Customs Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444533