https://www.taxtmi.com/caselaws?id=767128 CESTAT held that FOB value represents the transaction value agreed between buyer and seller, which cannot be modified by Customs officers or any third party. While officers may reject transaction values for duty assessment under Section 14 and Valuation Rules, they cannot alter the contractual FOB value itself. Export incentives including drawback, MEIS and ROSL must be calculated based on declared FOB values as per Central Government notifications. The tribunal dismissed Revenue's appeals, restored the Joint Commissioner's order accepting declared FOB values, and criticized DRI's interference in the adjudication process. en-us Fri, 07 Mar 2025 00:00:00 +0530 Mon, 07 Apr 2025 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767128 CESTAT held that FOB value represents the transaction value agreed between buyer and seller, which cannot be modified by Customs officers or any third party. While officers may reject transaction values for duty assessment under Section 14 and Valuation Rules, they cannot alter the contractual FOB value itself. Export incentives including drawback, MEIS and ROSL must be calculated based on declared FOB values as per Central Government notifications. The tribunal dismissed Revenue's appeals, restored the Joint Commissioner's order accepting declared FOB values, and criticized DRI's interference in the adjudication process. Case-Laws Customs Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767128