No Demand on Undervaluation of Goods Merely of Higher Discount given on Import: CESTAT sets aside Differential Duty [Read Order]

The Tribunal viewed that merely because the supplier has given a higher discount, it cannot be said that there has been any undervaluation in the invoice
CESTAT Bangalore - Import duty - Differential Duty - Undervaluation of Goods - taxscan

The Bangalore bench of the Customs Excise & Service Tax Appellate Tribunal ( CESTAT ) held that the demand for Undervaluation of goods merely of higher discount given on import is invalid and set aside the differential duty demand. Hazel Mercantile Ltd, the appellant had imported Methyl Phenyl Acetylene. The goods were imported from Singapore….

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