https://www.taxtmi.com/caselaws?id=762962 CESTAT New Delhi allowed appellant's appeal by way of remand regarding 70 self-assessed Bills of Entry. The tribunal held that additional amount paid as "Add.Recov.Freight" represented air freight costs, not other includable expenses. Since invoices were raised on CPT basis for ship transport but goods were actually air-freighted, the CPT price effectively became FOB value. Under Rule 10 of Customs Valuation Rules 2007, only 20% of FOB value for air freight can be included in assessable value. Matter remanded to original authority for re-determination of duty liability accordingly. en-us Tue, 10 Dec 2024 00:00:00 +0530 Wed, 11 Dec 2024 08:15:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762962 CESTAT New Delhi allowed appellant's appeal by way of remand regarding 70 self-assessed Bills of Entry. The tribunal held that additional amount paid as "Add.Recov.Freight" represented air freight costs, not other includable expenses. Since invoices were raised on CPT basis for ship transport but goods were actually air-freighted, the CPT price effectively became FOB value. Under Rule 10 of Customs Valuation Rules 2007, only 20% of FOB value for air freight can be included in assessable value. Matter remanded to original authority for re-determination of duty liability accordingly. Case-Laws Customs Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762962