Customs Duty Dispute: Valuation Rules and Section 14 Challenge Leads to Revised Ad-Valorem Rate for Excess Lumps.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Valuation - Rejection of Transaction value - Demand of differential Customs Duty - the reasons given for rejecting the transition value, is against the provisions of Section 14 of the Customs Act read with Rule 8 of the Valuation rules. - So far rejection of transaction value is concerned, it is held that for the excess lumps the same were to be charged at 10% ad-valorem, and not 15% ad-valorem. - AT....