Customs Authorities have rejected declared transaction value based on Directorate General of Valuation circular. Is Revenue right on their decision ?
Invoice price is not sacrosanct But before rejecting the invoice price the department has to give cogent reasons for such rejection. Assessing Authority has to examine each and every case on merit for deciding its validity. DGOV circular cannot override the provisions of Valuation Rules.
GURU RAJENDRA METALLOYS INDIA PVT LTD VERSUS CC CESTAT AHMEDABAD decided on 29.05.20
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