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Kiran Spinning Mills vs Collector Of Customs on 5 August, 1999

62. Reliance of Mr.Tapare on this judgment is misplaced because what this argument overlooks are the provisions of the CST Act and the definitions as well as Chapter V of the Customs Page 57 of 74 J.V.Salunke,PA ::: Uploaded on - 08/02/2019 ::: Downloaded on - 09/02/2019 02:29:06 ::: Judgment-STR.52.2009+1.doc Act, 1962. Section 15 of the Customs Act, 1962 has been extensively amended and that amended provision applied for the purposes of date for determination of rate of duty and tariff valuation of imported goods. Thus, this judgment in the case of Kiran Spinning Mills (supra) dealt with the issue as to whether the import duty has to be paid when the import is complete and that import is complete only when the goods crossed the customs barriers or otherwise. The Hon'ble Supreme Court held that the taxable event is as above. We do not think that this judgment has any application.
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