TaxTMI 
TaxTMI 
2021 (10) TMI 391
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....t Rs.45,13,353, imported vide bill of entry no. 001601/12.10.2012, as 'cut and polished diamonds' with consequent enhancement of value to Rs.50,39,664 by recourse to rule 9 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 and duty liability of Rs.1,03,817 on assessable value of Rs.54,37,881. In addition, the confiscation of the impugned goods under section 111(m) of Customs Act, 1962, that were allowed to be redeemed on payment of fine of Rs.10,00,000, and the imposition of penalties of Rs.2,00,000 under section 112 of Customs Act, 1962 and Rs.1,00,000 under section 114A of Customs Act, 1962 are sought to be set aside. 2. Opinion of Gemological Institute of India (GII) was sought on sample of six diamonds drawn a....
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....ssion that no evidence of additional consideration has been adduced to discredit the declared value. It is contended that the failure to consider circular no. 35/2009- Cus dated 26th December 2009 of Directorate General of Export Promotion (DGEP) taints the findings in the impugned order. Reliance was placed on the decision of the Hon'ble Supreme Court in Commissioner of Customs, Mumbai v. Mahalaxmi Gems [2008 (231) ELT 198 (SC)]. 4. Learned Authorized Representative emphatically draws upon the findings to defend the impugned order and further contends that description in the Kimberly Process Certificate is not sufficient evidence of the condition of the diamonds in view of the instructions contained in circular no. 53/2003-Cus dated 23rd ....
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....impugned goods do not fall in this category in view of the clear cut opinion of approved Trade Panel Members and reports from GII and GIA, both recognized laboratories in the field of Diamonds, suggesting that the impugned goods cannot be classified as Rough Diamonds.' and the Kimberly Process Certificate too with the finding that '3.12. Further, the contention of the importer that the authorised Officer at the port of shipment certified the classification of the goods under Tariff Heading 7102.31 and classified the goods as Rough Diamonds-for the purpose of international trade and also that the impugned goods are 'Rough Diamonds' as declared by them in the Bill of Entry as the goods were accompanied by the Kimberley Process Cert....