https://www.taxtmi.com/caselaws?id=445682 Declared invoice value under customs valuation may be rejected where the Department produces credible material showing undervaluation. On the facts noted, contemporaneous internet prices for identical or similar goods, statements of the authorised representative under Section 108 accepting the enhanced value, and the absence of any retraction supported re-determination of assessable value. The assessee also failed to produce evidence to displace the departmental material, and differential duty had been deposited. The stated result was that rejection of transaction value, re-determination under the Customs Valuation Rules, 2007, and confirmation of duty and penalty were legally sustainable. en-us Tue, 14 Nov 2023 00:00:00 +0530 Fri, 17 Nov 2023 08:39:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445682 Declared invoice value under customs valuation may be rejected where the Department produces credible material showing undervaluation. On the facts noted, contemporaneous internet prices for identical or similar goods, statements of the authorised representative under Section 108 accepting the enhanced value, and the absence of any retraction supported re-determination of assessable value. The assessee also failed to produce evidence to displace the departmental material, and differential duty had been deposited. The stated result was that rejection of transaction value, re-determination under the Customs Valuation Rules, 2007, and confirmation of duty and penalty were legally sustainable. Case-Laws Customs Tue, 14 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445682