Valuation of imported goods - aircraft engine - vehicle ...

Court Rules Against Notional Price in Aircraft Engine Valuation; Violates Rules 3, 4, and 5 for Transaction Value.

December 23, 2021

Case Laws Customs AT

Valuation of imported goods - aircraft engine - vehicle expressly imported for a limited period and for ‘stop gap’ fitment during the overhaul of the regular engines by the provider of the imported replacement - The impugned order has adopted a base value to which additions have been made and, in the process, utilized a notional price in the agreement that is neither price paid nor price payable which is a necessary qualification for ‘transaction value’ of ‘imported goods’, ‘identical goods’ or ‘similar goods’ in rule 3, 4 and 5 - Likewise rule 7 and 8 of the said Rules specify the circumstances that validate appraisal. - AT

View Source

← Previous Next →

Valuation of imported goods - aircraft engine - vehicle ...

Court Rules Against Notional Price in Aircraft Engine Valuation; Violates Rules 3, 4, and 5 for Transaction Value.

December 23, 2021

Case Laws Customs AT

You may also like:

Valuation - inclusion of transportation charges - In the first SCN the value is sought to be determined in terms of Section 4(1)(a) read with Rule 4 and 5 of Central...

Valuation of imported goods - Admittedly, it is evident on the face of the record that deductive value was available before the Court below which have not been rejected...

Valuation of imported goods - non & mis- declaration - adjudicating authority has not recorded the reason as to why he has resorted to the valuation under Rule 7 without...

CESTAT allowed appeal concerning CENVAT credit on Smart-Cards sent to STB manufacturer for testing and pairing. Tribunal held appellant was not required to reverse...

CENVAT Credit - Removal of capital goods - Depreciation - Deduction of 2.5% to be applied from the date of availing credit, not from the date of receiving or putting to...

The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

Method of Valuation - prototype vehicles - goods cleared from the factory on payment of duty under self invoice on the comparable value of the similar vehicle applying...

Scope of exemption notification - Absolute exemption or conditional exemption - In the present case, the goods were supplied under notification No. 108/1995-CE depending...

The key legal issues and holdings in this case are: 1. Valuation of clinkers transferred by the appellant to their sister concern should be done u/r 4 read with Rule 11...

100% EOU - DTA clearance - Valuation of goods Rule 4 or under Rule 7 of the Customs Valuation Rules, 1988 - if Rule 4 is not applicable, the valuation of the goods has...

Assessment of turnover of the applicant as per Section 4(3) of the VAT - levy of tax on turnover of sale has to be done in the manner provided in Section 4(3) of the Act...

Removal of Inputs as such - reversal of cenvat credit under Rule 3(5) on input services - Recovery of service tax in terms of Rule 3(5) not justified - AT

The Notification issued by the Ministry of Commerce and Industry introduces the Special Economic Zones (Third Amendment) Rules, 2024. Rule 29A of the Special Economic...

The Madras High Court considered the issue of personal hearing notice u/s FEMA 1999. The Court held that Rule 4(3) does not require the reasoned opinion to be...

Refund claim of service tax paid on cancelled transactions - Post GST era - Rejection of refund under Rule 6(3) of Service Tax Rules read with Sec 142(5) of CGST Act -...

Quick Updates: