Valuation of Customs Duty of FO and DO used during coastal run of vessel should be done as per ‘Residual Method’ prescribed u/r 9(1) of Customs Valuation Rules: CESTAT [Read Order]

By Shabna Rahim - On October 19, 2023 7:00 am - 2 mins read

Valuation of Customs Duty of FO and DO - coastal run of vessel - CESTAT - Residual Method - Customs Valuation Rules - fuel oil - diesel - diesel oil - Excise and Customs - coastal run - TAXSCAN

The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that valuation of Customs Duty of fuel oil (FO) and diesel oil (DO) used during the coastal run of the vessel should be done as per the residual method prescribed under rule 9(1) of the Customs Valuation Rules,2007. Seatrans Ship Management…

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