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Customs - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Overvaluation of imported goods - cut and polished diamonds - ...

Case Laws     Customs

August 30, 2023

Overvaluation of imported goods - cut and polished diamonds - There has been blatant disregard not only of the scheme of valuation, now in force and consistent with international convention, as set out in Customs Act, 1962 and Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 but also in the particulars of process and method embodied therein. - Demand and confiscation order set aside - AT

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