https://www.taxtmi.com/caselaws?id=332304 The appellate tribunal upheld the methodology for calculating duty on ship stores consumed during the coastal voyage. It confirmed the duty payment but adjusted the calculation method. The tribunal rejected the application of the "first-in-first-out principle" and determined duty based on actual consumption. It agreed to include locally purchased fuel oil in the opening inventory. The methodology for assessing duty on fuel oil and diesel oil consumed during the voyage was deemed appropriate, dismissing the Revenue's appeal. The tribunal affirmed the duty liability as revised by the appellate authority, dismissing the appeal. en-us Fri, 15 Jul 2016 00:00:00 +0530 Thu, 05 Jan 2017 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332304 The appellate tribunal upheld the methodology for calculating duty on ship stores consumed during the coastal voyage. It confirmed the duty payment but adjusted the calculation method. The tribunal rejected the application of the "first-in-first-out principle" and determined duty based on actual consumption. It agreed to include locally purchased fuel oil in the opening inventory. The methodology for assessing duty on fuel oil and diesel oil consumed during the voyage was deemed appropriate, dismissing the Revenue's appeal. The tribunal affirmed the duty liability as revised by the appellate authority, dismissing the appeal. Case-Laws Customs Fri, 15 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332304