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

Kaveri Exports of Chennai filed a shipping bill for export goods under section 50 on 5 June. The proper officer made an order permitting clearance and loading of the goods under section 51 on 9 June. The goods were physically loaded on a vessel on 12 June, and the export duty rate was revised on 7 June and again on 11 June. Which date determines the rate of export duty and tariff valuation?

The relevant date is 9 June. For export goods entered under section 50, section 16 applies the rate and tariff valuation in force on the date the proper officer makes the order permitting clearance and loading under section 51, not the shipping bill date or the date of loading.

  1. A5 June, the date the shipping bill was presented
  2. B9 June, the date of the let export orderCorrect
  3. C11 June, the date of the latest rate revision
  4. D12 June, the date of actual loading

Explanation

Section 16(1)(a) fixes the rate and tariff valuation for goods entered for export under section 50 as those in force on the date the proper officer makes the order permitting clearance and loading under section 51. That date is 9 June. The shipping bill date and the loading date are not the relevant dates.

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