Tax authority's substitution of projected figures with actuals overturned; original acquisition valuation upheld; transfer pricing issues remitted for...
Beneficial owner held liable for differential customs duty; royalties added under Rule 10(1)(c); confiscation, penalties under s.111(m), s.114A, s.112...
AAR held that, under the MOOWR scheme, warehoused aluminium frames imported prior to 27.09.2024 but cleared for home consumption on or after that date attract Anti-Dumping Duty pursuant to N/N. 16/2024-Customs (ADD). Applying Section 15(1)(b) of the Customs Act read with Section 9A(8) of the Customs Tariff Act, the determinative date for the rate of ADD on warehoused goods is the date of presentation of the ex-bond Bill of Entry, not the date of warehousing. ADD is to be treated on par with other customs duties. The applicant's contention that only initially deferred duties (BCD, SWS, IGST) are payable at ex-bond was rejected.
AAR held that, under the MOOWR scheme, warehoused aluminium frames imported prior to 27.09.2024 but cleared for home consumption on or after that date attract Anti-Dumping Duty pursuant to N/N. 16/2024-Customs (ADD). Applying Section 15(1)(b) of the Customs Act read with Section 9A(8) of the Customs Tariff Act, the determinative date for the rate of ADD on warehoused goods is the date of presentation of the ex-bond Bill of Entry, not the date of warehousing. ADD is to be treated on par with other customs duties. The applicant's contention that only initially deferred duties (BCD, SWS, IGST) are payable at ex-bond was rejected.
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