https://www.taxtmi.com/caselaws?id=44450 Under the DEEC scheme, customs authorities may verify and certify the correctness of export value, including FOB value, even where no export duty is leviable. Section 14(1) of the Customs Act, 1962 is the statutory basis for determining value whenever that value is relevant under customs law or allied regulatory instruments. The customs power is not confined to duty assessment, and exporters' declarations are not conclusive where over-invoicing is suspected. Incorrect valuation may also trigger confiscation and penalty consequences under the governing statutory and regulatory framework. en-us Fri, 20 Dec 1996 00:00:00 +0530 Sat, 26 Jun 2010 12:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44450 Under the DEEC scheme, customs authorities may verify and certify the correctness of export value, including FOB value, even where no export duty is leviable. Section 14(1) of the Customs Act, 1962 is the statutory basis for determining value whenever that value is relevant under customs law or allied regulatory instruments. The customs power is not confined to duty assessment, and exporters' declarations are not conclusive where over-invoicing is suspected. Incorrect valuation may also trigger confiscation and penalty consequences under the governing statutory and regulatory framework. Case-Laws Customs Fri, 20 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44450