https://www.taxtmi.com/caselaws?id=48862 Over-invoicing of export goods is treated as an offence under the Customs Act, and exporters must make a truthful declaration of value in the shipping bill. The customs valuation framework applies to export consignments even where no export duty is leviable, so customs authorities are not bound to accept the declared FOB value if the record shows misdeclaration or over-invoicing. Earlier views excluding duty-free exports from the reach of valuation under Section 14 were rejected as inconsistent with the statutory scheme. Confiscation and penalty based on over-invoicing and misdeclaration of export value were sustained. en-us Fri, 01 Dec 2000 00:00:00 +0530 Sat, 07 Aug 2010 09:48:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48862 Over-invoicing of export goods is treated as an offence under the Customs Act, and exporters must make a truthful declaration of value in the shipping bill. The customs valuation framework applies to export consignments even where no export duty is leviable, so customs authorities are not bound to accept the declared FOB value if the record shows misdeclaration or over-invoicing. Earlier views excluding duty-free exports from the reach of valuation under Section 14 were rejected as inconsistent with the statutory scheme. Confiscation and penalty based on over-invoicing and misdeclaration of export value were sustained. Case-Laws Customs Fri, 01 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48862