Case Law Details
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 observed that no proper response was given by the appellant and therefore the system sent the Bill of Entry to the Port Assessment Group.
On noticing that the declared price significantly lower than the price of goods with similar description and similar commercial level at or around the similar time. it was decided that there is reason to doubt the truth or accuracy of value declared by the appellant. Consequently the declared price was rejected in terms of 12(1) CVR, 2007.
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