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CA Final · Indirect Tax Laws · Valuation under the Customs Act, 1962

Ishaan Traders of Delhi imports goods by an authorised courier. The courier presents the list of particulars of the goods to the proper officer on 15 July. The goods were imported by air, and the applicable rate of duty rises on 18 July. Ishaan pays the duty on 20 July. Separately, Ishaan also exports a sample by courier, delivering it to the authorised courier on 10 July, with an export duty change effective 12 July. Which pair of dates determines the rates?

Import is governed by 15 July and export by 10 July. Section 83 fixes the import date as when the authorised courier presents the list of goods to the proper officer, and the export date as when the exporter delivers the goods to the courier.

  1. AImport: 20 July; Export: 12 July
  2. BImport: 15 July; Export: 10 JulyCorrect
  3. CImport: 18 July; Export: 10 July
  4. DImport: 15 July; Export: 12 July

Explanation

Under section 83(1), for goods imported by courier the rate and valuation are those in force on the date the authorised courier presents the list of particulars to the proper officer, here 15 July. Under section 83(2), for exports it is the date the exporter delivers the goods to the authorised courier, here 10 July. Payment dates and later notification dates do not matter.

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