Determination of Transactional value of Ordinary PU belt without conducting proper Market value enquiry: CESTAT Quashes Customs duty Demand [Read Order]

By Shabna Rahim - On October 3, 2023 9:00 pm - 2 mins read
Determination - Transactional value - Ordinary PU belt - conducting - Market value enquiry - CESTAT - Quashes - Customs duty Demand - taxscan

The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed the demand of Customs duty for redetermination of the transactional value of an ordinary polyurethane (PU) belt without conducting proper market value inquiry.  Panchagni Energies Pvt Ltd, the appellant assessee had imported a product described as Ordinary PU belts and was…

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