Rejecting Transaction Value Based on Assumption Contrary to Customs Act Section 14 & Valuation Rules 8

Krishna Traders Vs Commissioner of Central Tax (CESTAT Hyderabad) Transaction value cannot be rejected on mere assumption/presumption and against provisions of Section 14 of the Customs Act read with Rule 8 of the Valuation rules Introduction: The case of Krishna Traders vs. Commissioner of Central Tax (CESTAT Hyderabad) revolves around the dispute over the demand for a customs duty of ₹4,42,049. The central issue is whether the differential customs duty has been rightfully demanded and if the adopted price for finalization aligns with the contract value of the exported goods. Export Contrac...