GENERAL ELEC CO OF INDIA (MFG ) P LTD Vs. COLLR OF CUS , CALCUTTA
HIGH COURT OF CALCUTTA
General Elec Co Of India (Mfg ) P Ltd
Collr Of Cus , Calcutta
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(1.) The petitioner company is a manufacturer of electrical appliances. For the purpose of its manufacturing business, the Company imports component parts and raw materials from England. On the imported goods, the petitioner is liable to pay customs duty. Such duty is calculated on the real value' of the imported goods as defined in section 30 of the Sea Customs Act, 1878 (hereinafter referred to as the Act), namely :-
"30. For the purposes of this Act the real value shall be deemed to be :-
(a) The wholesale cash price, less trade discount, for which goods of the like kind and quality are sold, or are capable of being sold at the time and place of importation or exportation, as the case may be, without any abatement or deduction whatever, except (in the case of goods imported) of the amount of duties payable on the importation thereof; or
(b) where such price is not ascertainable, the cost at which goods of the like kind and quality could be delivered at such places without any abatement or deduction except as aforesaid".
(2.) For the purpose of assessment of customs duty the owner of the imported goods, such as the petitioner happens to be, is liable, under Section 29 of the Act, to state in the bill of entry or shipping bill, as the case may be, the real value, quantity and description of the imported goods to the best of his knowledge and belief.
(3.) If the imported goods are chargeable with duty upon the value thereof and not upon any special value fixed by law for the purpose of levying duty thereon, then under Section 31 of the Act, the goods are liable to be examined, without unnecessary delay by an officer of Customs and if it appears that real value of such goods have been correctly stated in the bill of entry or the shipping bill, the goods are to be assessed in accordance therewith.;
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