Customs Duty Dispute: Valuation Rules and Section 14 Challenge Leads to Revised Ad-Valorem Rate for Excess Lumps.

Customs Duty Dispute: Valuation Rules and Section 14 Challenge Leads to Revised Ad-Valorem Rate for Excess Lumps. https://www.taxtmi.com/highlights?id=73252 Valuation - Rejection of Transaction value - Demand of differential Customs Duty - the reasons given for rejecting the transition value, is against the provisions of Section 14 of the Customs Act read with Rule 8 of the Valuation rules. - So far rejection of transaction value is concerned, it is held that for the excess lumps the same were to be charged at 10% ad-valorem, and not 15% ad-valorem. - AT en-us Mon, 27 Nov 2023 07:15:02 +0530 Fri, 01 Dec 2023 18:47:21 +0530 TaxTMI RSS Generator Customs Duty Dispute: Valuation Rules and Section 14 Challenge Leads to Revised Ad-Valorem Rate for Excess Lumps. https://www.taxtmi.com/highlights?id=73252 Valuation - Rejection of Transaction value - Demand of differential Customs Duty - the reasons given for rejecting the transition value, is against the provisions of Section 14 of the Customs Act read with Rule 8 of the Valuation rules. - So far rejection of transaction value is concerned, it is held that for the excess lumps the same were to be charged at 10% ad-valorem, and not 15% ad-valorem. - AT Highlights Customs Mon, 27 Nov 2023 07:15:02 +0530 https://www.taxtmi.com/highlights?id=73252