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of <h1>Central Board mandates uniform WMT method for iron ore export duty, aligning with Supreme Court ruling. Feedback invited.</h1> The circular issued by the Central Board of Excise & Customs addresses the need for a uniform procedure to calculate the iron content in iron ore for export duty purposes. It highlights the divergent practices at different ports, using either Wet Metric Ton (WMT) or Dry Metric Ton (DMT) methods. Referring to a Supreme Court ruling, the circular mandates that export duty should be based on the iron content determined from the total weight, including impurities and moisture, using the WMT method. It instructs that pending assessments should be finalized accordingly and invites feedback on implementation difficulties.
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