Value for payment of customs duty: Price relevant for customs valuation under section 14(1) of Customs Act, 1962 is the price for delivery at time and place of importation.
Invoice value of original import or the price actually payable by buyer? High sea sale (HSS) means sale of goods by transfer of documents before clearance of goods from customs. In case of high sea sale (HSS), price charged by importer to assessee would form the assessable value and not the invoice issued to the importer by foreign supplier. – National Wire v. CC 2000(122) ELT 810 (CEGAT) * Godavari Fertilizers v. CC (1996) 81 ELT 535 (CEGAT).
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