https://www.taxtmi.com/caselaws?id=753791 CESTAT Bangalore ruled in favor of the appellant in a customs valuation dispute involving imported Muriate of Potash. The tribunal held that exchange rate applicable for duty calculation should be as on the date of Bill of Entry filing, not the actual payment date to High Seas Seller, following HC Calcutta and HC Madras precedents. The differential duty demand arising from exchange rate fluctuation (Rs.50.05 to Rs.62.68 per USD) was set aside. Additionally, CVD exemption under Notification No.4/2006 CE was granted as appellant qualified as fertilizer manufacturer-distributor with proper licensing. en-us Tue, 02 Apr 2024 00:00:00 +0530 Mon, 10 Jun 2024 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753791 CESTAT Bangalore ruled in favor of the appellant in a customs valuation dispute involving imported Muriate of Potash. The tribunal held that exchange rate applicable for duty calculation should be as on the date of Bill of Entry filing, not the actual payment date to High Seas Seller, following HC Calcutta and HC Madras precedents. The differential duty demand arising from exchange rate fluctuation (Rs.50.05 to Rs.62.68 per USD) was set aside. Additionally, CVD exemption under Notification No.4/2006 CE was granted as appellant qualified as fertilizer manufacturer-distributor with proper licensing. Case-Laws Customs Tue, 02 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753791