https://www.taxtmi.com/caselaws?id=764298 CESTAT Allahabad upheld classification of imported processed betel nuts under CTH 08028020, following SC precedent. The tribunal rejected appellant's valuation challenge, clarifying that DGFT's minimum import price cannot substitute for statutory tariff value under Customs Act. However, CESTAT reduced redemption fine from original amount to Rs.10,95,000 (5% of determined value) and penalty to Rs.5,00,000, accepting appellant's submission. Re-export permission granted with reduced financial burden. Appeal partially allowed. en-us Mon, 06 Jan 2025 00:00:00 +0530 Tue, 07 Jan 2025 13:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764298 CESTAT Allahabad upheld classification of imported processed betel nuts under CTH 08028020, following SC precedent. The tribunal rejected appellant's valuation challenge, clarifying that DGFT's minimum import price cannot substitute for statutory tariff value under Customs Act. However, CESTAT reduced redemption fine from original amount to Rs.10,95,000 (5% of determined value) and penalty to Rs.5,00,000, accepting appellant's submission. Re-export permission granted with reduced financial burden. Appeal partially allowed. Case-Laws Customs Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764298