https://www.taxtmi.com/caselaws?id=445427 CESTAT Hyderabad dismissed Revenue's appeal regarding refund of excess customs duty paid on ship stores and bunkers during vessel conversion from foreign to coastal run. The tribunal held that agents were entitled to refund under CBEC Circular No. 58/97 dated 06.11.1997, which prescribes provisional assessment at 110% of estimated consumption during coastal operations. Since duty was collected on estimated quantities and actual consumption was lower, excess duty was refundable. The tribunal followed precedent from Atlantic Shipping case where similar refund was allowed, confirming the procedure aims to recover duty only on actual consumption during coastal run. en-us Mon, 09 Oct 2023 00:00:00 +0530 Tue, 07 Nov 2023 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445427 CESTAT Hyderabad dismissed Revenue's appeal regarding refund of excess customs duty paid on ship stores and bunkers during vessel conversion from foreign to coastal run. The tribunal held that agents were entitled to refund under CBEC Circular No. 58/97 dated 06.11.1997, which prescribes provisional assessment at 110% of estimated consumption during coastal operations. Since duty was collected on estimated quantities and actual consumption was lower, excess duty was refundable. The tribunal followed precedent from Atlantic Shipping case where similar refund was allowed, confirming the procedure aims to recover duty only on actual consumption during coastal run. Case-Laws Customs Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445427