https://www.taxtmi.com/caselaws?id=438568 On debonding of an EOU, customs duty on unutilised raw materials, consumables and capital goods is to be re-quantified with reference to the date of expiry of the warehousing licence, with depreciation on capital goods applied at the rate prevailing on that date. The unit had completed the export obligation and earned positive net foreign exchange in both block periods, and the Tribunal noted that the exemption notification did not require any different valuation method from that adopted by the Commissioner. A Revenue objection confined to the manner of computing depreciation and duty, without demonstrating any legal infirmity, was rejected and the reworked duty demand was left undisturbed. en-us Tue, 25 Apr 2023 00:00:00 +0530 Mon, 05 Jun 2023 08:29:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438568 On debonding of an EOU, customs duty on unutilised raw materials, consumables and capital goods is to be re-quantified with reference to the date of expiry of the warehousing licence, with depreciation on capital goods applied at the rate prevailing on that date. The unit had completed the export obligation and earned positive net foreign exchange in both block periods, and the Tribunal noted that the exemption notification did not require any different valuation method from that adopted by the Commissioner. A Revenue objection confined to the manner of computing depreciation and duty, without demonstrating any legal infirmity, was rejected and the reworked duty demand was left undisturbed. Case-Laws Central Excise Tue, 25 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438568