Penalty or Redemption Fine when Bill of Entry Finally Assessed at Declared Value?

Kumar Impex Vs Commissioner of Customs (CESTAT Mumbai) In the case of Kumar Impex Vs Commissioner of Customs, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Mumbai examined the possibility of imposing penalties and redemption fine on an importer when the bill of entry for the imported goods has been finally assessed at its declared value. This dispute arose following inconsistencies identified by the Customs department in the description and thickness of imported goods. Kumar Impex imported ‘PU coated fabric’ and sought a ‘first check’ from the Customs...