Customs Must Follow Sequential Valuation Rules Before Invoking Rule 8: CESTAT Delhi

Rochees Time Private Limited Vs Commissioner of Customs (CESTAT Delhi) The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Delhi, decided three connected appeals challenging an order dated 31.12.2010 passed by the Commissioner of Customs, Jaipur. The Commissioner had rejected the declared values of imported watch parts and watch movements, re-determined their values, confirmed a differential customs duty demand of ₹20,67,047 with interest, confiscated the imported goods, imposed a redemption fine of ₹10,00,000, levied penalties on the importer under Sections 112 and 114A of th...