2014 (1) TMI 530 - AT - Customs

Valuation of goods - Reliability on quotation of the supplier - Held that - value cannot be enhanced on the basis of the quotation. There is no evidence on record to show that the respondents had paid over and above the declared value of the imported goods. The trade discounts are acceptable principles in the international trade. It is not the case of Revenue that the trade discount is to suppress the value of the goods - Decided against Revenue.

Summary

The Revenue's appeal against the Order-in-Appeal was dismissed by the Appellate Tribunal CESTAT Mumbai. The tribunal upheld the transaction value declared by the respondent for imported goods, stating that the value cannot be enhanced based on supplier quotations. Trade discounts are acceptable in international trade, and there was no evidence of undervaluation.