https://www.taxtmi.com/caselaws?id=466745 Redetermination of retail sale price (RSP) for assessing additional customs duty must follow the procedural and evidential requirements of the statutory RSP scheme; absent a proper market inquiry and compliance with the prescribed Rules, valuation adjustments and consequent demands, redemption fine and penalty cannot be sustained. The impugned assessment relied on a single bill of entry and an asserted market inquiry without records showing enquiries compared like goods sold at or about the time of removal, and did not establish specific market evidence for past consignments or reconcile duties already paid; accordingly the RSP-based demands and penalties founded on that process are set aside. en-us Mon, 08 Apr 2024 00:00:00 +0530 Wed, 18 Feb 2026 20:11:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466745 Redetermination of retail sale price (RSP) for assessing additional customs duty must follow the procedural and evidential requirements of the statutory RSP scheme; absent a proper market inquiry and compliance with the prescribed Rules, valuation adjustments and consequent demands, redemption fine and penalty cannot be sustained. The impugned assessment relied on a single bill of entry and an asserted market inquiry without records showing enquiries compared like goods sold at or about the time of removal, and did not establish specific market evidence for past consignments or reconcile duties already paid; accordingly the RSP-based demands and penalties founded on that process are set aside. Case-Laws Customs Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466745