9911796707
TMI Blog1995 (1) TMI 192X X X X Extracts X X X X X X X X Extracts X X X X ..... e years he brought it to India against a valid Customs Clearance Permit. Bill of Entry No. 010, dated 14-9-1987 was filed in Delhi Customs House for the clearance of the car. Along with the Bill of Entry, the appellant filed Invoice No. M/11993/2-B, dated 3-2-1982 issued by M/s. Nippon Trading Co. Ltd., Japan which indicated the FOB and CIF prices of the imported car as US $ 3,155.20 and US $ 4,013.65 respectively. The appellant had also obtained another invoice from the supplier bearing the same number and date in respect of the imported car which indicated the CIF price as Japanese Yen 1,010,000. The Assistant Collector of Customs, Delhi determined the assessable value of the car on the basis of the invoice which showed the CIF price as U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e prevailing customs practice, if the manufacturers invoice is not produced, the valuation is done on the basis of manufacturer s `price list showing ex-works prices. No Trading Discount is allowed on these prices as manufacturers themselves discounted these prices to the customers; when the manufacturer s invoice or the manufacturer s price list is not available, recourse to world car catalogue is taken where valuation is done after giving 15% trade discount. Further, the price is to take from the manufacturer s price list/ex-works price given in the world car catalogue and since these prices and given is the currency of country of manufacture, the same are to be taken for the purpose of assessment, irrespective of the currency in which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g country. He submitted that in international trade goods are invoiced in different convertible currencies depending upon the terms of the agreement between the buyer and seller. On this ground he prayed that the re-assessment of the car imported by the appellant in terms of the invoice in U.S. dollars issued by Nippon Trading Co. of Japan may be ordered. Continuing his submission, Shri Sogani stated that the car in question was assessed on the basis of the invoice price since the car of the particular model was not figuring in the World Car Catalogue and the Manufacturers price list was also not available. He contended that the invoice having been issued by Nippon Trading Co. Japan, the sole selling agent of Nissan cars, their invoice pri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received two invoices for the car in question, one showing the price in U.S. dollars and the other in terms of Japanese currency. However, as seen from the certificate dated 25-1-1982 issued by M/s. Nepal Impex (P) Ltd. (Annexure J to the Appeal Memo) the payment for the car in question was made in terms of U.S. dollars. Since the payment for the car in question was made by the appellant in U.S. dollars and in view of the fact that in international trade it is a common practice to issue invoices in respect of the exported goods in terms of currencies other than the currency of the country of origin of the goods, we hold that the order passed by the lower authorities rejecting the invoice showing the price of the car imported by the appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal trade. But there could be no further 15% discount on the already net wholesale price. 15% discount was given on the retailers list price. We have had the benefit of experience of dealing with a large number of cases of valuation and assessment of imported cars. It is well within our knowledge that the general practice of the customs department is to base the valuation on the World Car Catalogue Price and give 15% discount thereon. The idea is to get at the price at which the like goods are ordinarily sold in wholesale in the course of international trade, as required by Section 14(1)(a) of the Customs Act, 1962. Resort is had to the individual invoice prices of the passengers only if the World Car Catalogue Price of the model is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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