https://www.taxtmi.com/caselaws?id=451153 CESTAT Bangalore allowed appeal in part regarding valuation of imported cement carrier ship. Tribunal rejected additional charges of 20% transportation cost, 1.125% handling charges, and 1% insurance added by adjudicating authority beyond chartered engineer's assessed value of Rs. 27 crores. Following Supreme Court precedent in Mangalore Refinery case, demand for bunker fuel quantity remaining at Colombo port was set aside as only goods actually imported into India attract customs duty. Confiscation, fine and penalty were also set aside due to absence of fact suppression. Final assessable value confirmed at Rs. 27 crores as per chartered engineer's valuation report. en-us Tue, 12 Mar 2024 00:00:00 +0530 Wed, 20 Mar 2024 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451153 CESTAT Bangalore allowed appeal in part regarding valuation of imported cement carrier ship. Tribunal rejected additional charges of 20% transportation cost, 1.125% handling charges, and 1% insurance added by adjudicating authority beyond chartered engineer's assessed value of Rs. 27 crores. Following Supreme Court precedent in Mangalore Refinery case, demand for bunker fuel quantity remaining at Colombo port was set aside as only goods actually imported into India attract customs duty. Confiscation, fine and penalty were also set aside due to absence of fact suppression. Final assessable value confirmed at Rs. 27 crores as per chartered engineer's valuation report. Case-Laws Customs Tue, 12 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451153