Customs Duty on Imported Crude Oil: Use Shore Tank Quantity, Not Bill of Lading, for Accurate Valuation.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Valuation - import of crude oil - Quantity actually received into shore tank in port in India should be the basis for payment of Customs duty. Quantity shown in bill of lading cannot be used for this purpose as it does not reflect quantity of goods at the time and place of importation - AT....