Case Law Details
Commissioner of Customs Vs Kaveri Silks & Jute Private Limited (CESTAT Chennai)
CESTAT Chennai held that transaction value declared by the importer duly accepted as earlier imports cleared accepting the declared value and also value of the contemporaneous import of identical goods has not been conclusively arrived at by the lower adjudicating authority.
Facts- The Respondents have filed seven Bills-of-Entry for clearance of Raw Silk Yarn in hanks, classifying the imported goods under CTH 5002 0010 at the declared unit price of USD 13.75 (CIF) per kg. and the country of origin of the goods being Uzbekistan.
Suspecting under-valuation of the imported goods, considering contemporaneous import prices of similar goods of same description, the importer was asked to justify the declared value. In both the above appeals, the invoices were raised by M/s. Bedeil General Trading LLC., Dubai.
Being aggrieved, the importer had filed Writ Petition before the Hon’ble High Court at Madras for the acceptance of the contract value / declared value for the Bills-of-Entry filed. The Hon’ble High Court directed the Revenue to release the imported goods on furnishing of a Bank Guarantee for 50% of the differential duty and further, a personal bond for the remaining 50% of the differential duty. In compliance with the above directions, the imported goods were assessed provisionally and cleared on the above terms.
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