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Customs - Highlights / Catch Notes

Home Highlights October 2023 Year 2023 This

Valuation of imported goods - vessel converted from ‘foreign ...

Case Laws     Customs

October 18, 2023

Valuation of imported goods - vessel converted from ‘foreign run’ to ‘coastal run’ for carriage of coastal cargo - When IOCL sells the goods the elements of freight and insurance are already added. Hence, these elements need not be added again to arrive the assessable value for the purpose of charging duty on the Fuel Oil and Diesel Oil used by the vessel during its coastal run - AT

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