https://www.taxtmi.com/circulars?id=68040 Conversion of vessels between foreign-run and coastal-run requires Customs duty assessment on ship stores consumed; provisional assessment should use transaction value where bunker receipts exist, otherwise apply Customs Valuation Rules sequentially from Rules 4 to 9 with HPCL export sale price used only as a last resort; disputes invoke principles of natural justice. Quantification follows Board Circular No. 58/1997 and finalisation of Bills of Entry must occur promptly after receipt of reversion documents. en-us Fri, 12 Jan 2024 00:00:00 +0530 Mon, 06 Jan 2025 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68040 Conversion of vessels between foreign-run and coastal-run requires Customs duty assessment on ship stores consumed; provisional assessment should use transaction value where bunker receipts exist, otherwise apply Customs Valuation Rules sequentially from Rules 4 to 9 with HPCL export sale price used only as a last resort; disputes invoke principles of natural justice. Quantification follows Board Circular No. 58/1997 and finalisation of Bills of Entry must occur promptly after receipt of reversion documents. Circulars Customs Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68040