Import of 'Transformer and its accessories' with price variation clause - reassessment of bills of entry upheld. Assessment deemed provisional.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CESTAT Kolkata held that valuation of 'Transformer and its accessories' with a price variation clause is subject to reassessment of bills of entry. Assessment at clearance is provisional when a contract includes a variation clause. The Tribunal referred to a similar case for precedent. The respondent's request for reassessment was valid, leading to dismissal of the Revenue's appeal. The impugned order was upheld, emphasizing the finality of assessment post-reassessment request.....