Member (Judicial) Archives

Drawback payable on market value of goods

Case Briefs Tribunals/Commissions/Regulatory Bodies

Drawback due on goods will be payable when the amount is less than market value of goods: CESTAT

“If the transaction value (FOB value) is so high, that the drawback due on the goods exceeds the market value of the goods, then, as per section 76(1)(b) of the Customs Act, 1962, no drawback shall be allowed.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Mere tallying of certain entries does not make loose sheets as complete evidence of purchases and sales’: CESTAT sets aside excise duty demand

Even if the figures in the document are hypothetically taken to be correct figures, still the same must be proved with corroborative evidence otherwise the document becomes irrelevant.