Proforma invoices cannot replace commercial invoices prepared after negotiation and accepted by Customs: CESTAT

The CESTAT held that proforma invoices issued prior to negotiation of terms cannot substitute for commercial invoices finalized after negotiation and accepted by customs authorities. In a customs valuation context, the tribunal emphasised that commercial invoices on record must reflect the final terms, transaction value, and any post-contract changes accepted by customs. Importers must ensure that documentation accurately aligns with final terms to avoid reassessment, valuation disputes and risk of penalties under customs regulations.