Industrial Imports to be Valued at Transaction Value: CESTAT quashes CVD Demand Citing Lack of MRP Declaration Requirement [Read Order]

CESTAT held that industrial imports must be valued at Transaction Value u/s 4 of the Central Excise Act, not u/s 4A, quashing the CVD demand. The judgment highlighted the lack of a statutory requirement for MRP declaration on such goods
By Devanand T R - On August 22, 2024 3:38 pm - 2 mins read
CESTAT - CVD - Custom Excise and Service Tax Appellate Tribunal - Countervailing Duty - CESTAT Quashes - under Section 4 Central Excise Act - MRP - Maximum Retail Price - Central Excise Act - CESTAT news - taxscan

The Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has quashed the demand for Countervailing Duty ( CVD ) on industrial imports, emphasising that such imports should be valued at Transaction Value under Section 4 of the Central Excise Act, rather than at the Maximum Retail Price (MRP). The case centered around M/s….

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