Customs releases Rolls Royce car after nine years – No depreciation in value for Customs duty
Somebody imports a Rolls Royce car in 1996, but the car was released only in 2005. What is the value for payment of Customs duty? Obviously the value at the time of import! But what would be the real value of a car that was in the possession of the Customs for nine long years? It must have become scrap with hardly any value! But the Law is that the value is the value at the time of import and certainly not a later day value.
Is there no remedy for the importer? There is! He can claim damages from Customs!
See our Supreme Court order today for more details.