Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
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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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