Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
CESTAT held that export consignments comprising mixed Iron Ore fines and low-percentage lumps could not be classified as Iron Ore lumps for levy of higher export duty, as lumps were not the predominant component. The Tribunal further ruled that export duty and value must be determined on the basis of Fe content and moisture percentage ascertained at the discharge port in terms of the export contracts, and that the declared transaction value could not be rejected without strictly following the Customs Valuation Rules and affording the exporters due opportunity. However, CESTAT upheld denial of cum-duty benefit, holding FOB value as the transaction value for export duty from 01.01.2009. Departmental appeals were dismissed; exporters' appeals were allowed to the above extent.
CESTAT held that export consignments comprising mixed Iron Ore fines and low-percentage lumps could not be classified as Iron Ore lumps for levy of higher export duty, as lumps were not the predominant component. The Tribunal further ruled that export duty and value must be determined on the basis of Fe content and moisture percentage ascertained at the discharge port in terms of the export contracts, and that the declared transaction value could not be rejected without strictly following the Customs Valuation Rules and affording the exporters due opportunity. However, CESTAT upheld denial of cum-duty benefit, holding FOB value as the transaction value for export duty from 01.01.2009. Departmental appeals were dismissed; exporters' appeals were allowed to the above extent.
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