Paper Import: HC explains what Constitutes a stock lot

Jayasakthi Papers Vs Commissioner of Customs (Madras High Court) The only question that arises for my consideration is whether the goods imported by the petitioner can be termed as a stock lot. This expression in normal parlance refers to those goods whose transaction value is less than the market value on account of their purchase during clearance sale or distress sale. But in the case on hand, the expression bears a different connotation altogether. The Director General of Foreign Trade has ascribed a particular meaning to this term in their trade notice No.8/2020-2021. Like Humpty Dumpty in...