M/s Heart & Soul Private Limited imported a consignment of goods from France through sea. The value of said consignment was 800 lakh and total…

CA Final · Indirect Tax Laws · PYQS · May 2025
M/s Heart & Soul Private Limited imported a consignment of goods from France through sea. The value of said consignment was 800 lakh and total custom duty payable was 180 lakh. Company filed bill of entry for home consumption, but the goods got deteriorated after unloading and after examination in India but before clearance for home consumption. The value of the goods after deterioration comes down to 200 lakh and the same was agreed by the proper officer. The amount of total custom duty payable at the time of clearance of goods will be:
(A) (A) 180 lakh
(B) (B) Nil
(C) (C) 45 lakh
(D) (D) 135 lakh

Suggested Answer and Working Notes:

Correct Answer: Option (A)

(A) 180 lakh

Topics: Input Tax Credit

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