COMMISSIONER V. PRAKSUM MERCANTILES (P) LTD. 2003 (158) E.L.T. A75 (S.C.)

 

Valuation (Customs) — Invoice price based on average of Platts (1) Valuation (Customs) — Imports published price form the assessable value (2) treated as contemporaneous if identical goods supplied by same vendor to another importer based on Platts publication

 

The Supreme Court Bench comprising Hon’ble Mr. Justice S.N. Variava and Hon’ble Mr. Justice B.N. Agrawal on 3-3-2003 dismissed as time barred the Civil Appeal No. D618 of 2003 filed by Commissioner of Customs, Kolkata against the CEGAT Order No. A/204/KOL/2002, dated 8-2-2002 and reported in 2002 (142) E.L.T. 682 (Tribunal) [Praksum Mercantiles (P) Ltd. v. Commissioner]. While dismissing the appeal, the Supreme Court passed the following order :-

 

“No sufficient explanation is given for condoning the delay of 274 days. Hence application for condonation of delay is dismissed. Accordingly appeal is also dismissed.”

 

The Appellate Tribunal in its impugned order had held that as per international pricing system, invoice price can be contracted based on average of Platts’ published price which ranges from 3 days to 3 months. Accordingly, the invoice price based on this cannot be rejected. The Tribunal had further held that if the same supplier had supplied similar goods to another importer at a price based on average of 25 days Platts publication then such goods should be treated as contemporaneous.

[Commissioner v. Praksum Mercantiles (P) Ltd. - 2003 (158) E.L.T. A75 (S.C.)]