Cum-duty valuation rejected for export duty on iron ore fines; FOB value must be used for levy computation.

Customs duty on export of iron ore fines was held not to be computable on FOB value by treating it as cum-duty value. The Tribunal treated the point as no longer res integra, followed earlier precedent, and held that cum-duty value cannot be adopted for determining the export duty levy. The issue was decided against the assessee and in favour of the Revenue.

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Issues: Whether customs duty on export of iron ore fines was liable to be computed on the FOB value by treating it as cum-duty value.

Analysis: The Tribunal noted that the issue had already been decided against the assessee in earlier rulings and was no longer res integra. Relying on the cited precedent decisions, it held that cum-duty value cannot be adopted for arriving at the value for levy of export duty.

Conclusion: The issue was decided against the assessee and in favour of the Revenue.

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