https://www.taxtmi.com/caselaws?id=448724 Declared FOB value for export goods cannot be rejected on the basis of an incomplete market survey unless the statutory valuation sequence is lawfully followed and reliable evidence of overvaluation exists. Where the declared value matches the invoice value and export proceeds are realised through banking channels, re-determination of FOB value is unsustainable. On that basis, consequential confiscation, penalties, and reductions of IGST refund, ROSL and MEIS benefits also fail. Only the limited question of drawback rate may be remanded where test results affect classification or composition and therefore the applicable drawback entitlement. en-us Mon, 20 Nov 2023 00:00:00 +0530 Mon, 29 Jan 2024 06:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448724 Declared FOB value for export goods cannot be rejected on the basis of an incomplete market survey unless the statutory valuation sequence is lawfully followed and reliable evidence of overvaluation exists. Where the declared value matches the invoice value and export proceeds are realised through banking channels, re-determination of FOB value is unsustainable. On that basis, consequential confiscation, penalties, and reductions of IGST refund, ROSL and MEIS benefits also fail. Only the limited question of drawback rate may be remanded where test results affect classification or composition and therefore the applicable drawback entitlement. Case-Laws Customs Mon, 20 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448724