2007 (9) TMI 78 - HC - Customs

Import of goods @ US 17 Contemporaneous imported goods valued @ US 22 Goods released by imposing condition that along with rate of US 17 importer would give personal bond for differential custom duty

Summary

Issues: Dispute over customs duty payment for imported Mulberry Raw Silk.

In this judgment, the petitioner, a regular importer of Raw Silk, imported Mulberry Raw Silk from China at different rates per kilogram for different grades. The dispute arose when the respondents questioned the valuation of the Mulberry Raw Silk at US $17.00 per kilogram for 3A grade, as they noted contemporaneous imports valued at US $22 per kilogram. The respondents asked the petitioner to justify the lower valuation. The learned counsel for the respondents referred to similar cases and suggested releasing the imported materials with conditions. The court directed the release of the imported Mulberry Raw Silk of 9345.910 kilograms of 3A grade at the petitioner's valuation of US $17.00 per kilogram. The petitioner was required to pay the differential customs duty at US $5 per kilogram and provide a personal bond for the remaining amount. The petitioner was given 15 days to comply with these conditions. The court also ordered the petitioner to cooperate with any investigation or assessment by the respondents. Once the petitioner fulfilled the conditions, the respondents were directed to release the imported materials within 15 days. The writ petition was thus disposed of with no costs incurred, and a related miscellaneous petition was closed as well.