Customs broker cannot be held liable for undervaluation of exported goods

Sri Velavan Logistics Services Private Limited Vs Commissioner of Customs (CESTAT Chennai) In the case of M/s. Sri Velavan Logistics Services Private Limited v. The Commissioner of Customs [Customs Appeal No. 40352 of 2022 dated December 21, 2022], the CESTAT, Chennai, ruled that customs brokers cannot be held liable for the undervaluation of goods. The court held that the valuation of goods is determined by the contract between the exporter and importer, and customs brokers do not have any influence in this matter. Consequently, the penalty imposed on the customs broker under Section 114 of t...