2024 (6) TMI 398

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ds on payments of duty. At a later date, the audit had noticed that as per the High Seas Sales Agreement, the purchase price was USD 484.75 PMT and it is also mentioned that the seller had agreed to give 180 days credit from the date of Bill of Lading. On the 180th day, the payment made to the supplier in terms agreement was Rs. 66,87,70,836/-. Since at the time of clearance of the goods, the value of the goods was Rs. 66,87,70,836/- which was less than the actual amount paid to the seller after 180 days, differential duty was demanded and accordingly Rs.15,63,856/- was confirmed under the provisions of Section 28(1) of the Customs Act, 1962 read with Section 28(4) of the Customs Act, 1962 and equal amount of penalty was also imposed on the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Collr. of Cus., Kandla 2002 (139) E.L.T. 130 (Tri-Mumbai) c. Ever Bright Plastic Pvt. Ltd. Vs. Collector of Customs 1993 (65) E.L.T. 196 (Cal.) d. Trio Marketing Pvt. Ltd. Vs. UOI 2000 (122) E.L.T. 32 (Mad.) e. UMI Special Steel Ltd. Vs. CC, Bhubaneshwar 2001 (137) E.L.T. 174 (Tri-Cal) f. Tata Hitachi Construction Machinery Co. Ltd. Vs. C. C., Chennai 2019 (370) E.L.T. 1624 (Tri-Chennai) 2.3 The third issue is denial of exemption of CVD under Serial No.63 of the Notification No.4/2006 CE dated 01.03.2006. Serial No.63 reads as follows: Sr. No. Chapter Heading Description Rate Condition 63. 31 All goods, other than those which are clearly not to be used- fertilizers; * the manufacture of other fertilizers, whether d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....se of levy of duty; whether the declared value as per the Bill of Entry or the actual payment made to the High Seas Seller by the importer. 4.1 From the records, it is clear that the price of the imported product Muriate of Potash is USD 484.75 PMT and the price paid to the High Seas Seller is also USD 484.75 PMT. The differential value arose only on account of the exchange rate, the exchange rate was Rs.50.05 per US Dollar on the date of filling of the Bill of Entry i.e. 28.11.2011 and on the date of actual payment by the appellant to the High Seas Seller, the exchange rate was Rs.62.68 per US Dollar and hence, the change in value from Rs.66,87,70,836/- to 68,67,86,485/-. As per the proviso to Section 14, (reproduced below) rate of exchan....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e consideration for the sale or in any other case; (iii) the manner of acceptance or rejection of value declared by the importer or exporter, as the case may be, where the proper officer has reason to doubt the truth or accuracy of such value, and determination of value for the purposes of this Section, 2[(iv) the additional obligations of the importer in respect of any class of imported goods and the checks to be exercised, including the circumstances and manner of exercising thereof, as the Board may specify, where, the Board has reason to believe that the value of such goods may not be declared truthfully or accurately, having regard to the trend of declared value of such goods or any other relevant criteria] Provided also that suc....