Declared value rejectable whenever significantly higher value of identical goods noticed

Kumar Impex Vs C.C. (CESTAT Ahmedabad) CESTAT Ahmedabad held that explanation to rule 12 of the Customs Valuation Rules, 2007 wherever a significantly higher value of identical or similar goods is noticed in comparable transactions at roughly the same time the declared value can be rejected. Facts- This appeal has been filed by M/s. Kumar Impex against re- determination of the assessable value of the goods imported by them. Notably, the appellant imported ‘Polyester Knitted Fabric’ and twice query was raised via EDI module seeking reasons for unusually low price. The impugned order observe...