https://www.taxtmi.com/caselaws?id=775400 The CESTAT held that the Customs Commissioner lacked authority to re-determine the FOB value of exported goods under the Customs Act, 1962. Export benefits like Drawback and DEPB are linked to the declared FOB value, which reflects the transaction value agreed with the overseas buyer and cannot be altered based on domestic market prices or Customs officers' assessments. The impugned order, which sought recovery of export benefits, confiscation, and penalties based on a revised FOB value, was set aside as it was passed without legal authority. The appeal was allowed accordingly. en-us Tue, 22 Jul 2025 00:00:00 +0530 Fri, 25 Jul 2025 08:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775400 The CESTAT held that the Customs Commissioner lacked authority to re-determine the FOB value of exported goods under the Customs Act, 1962. Export benefits like Drawback and DEPB are linked to the declared FOB value, which reflects the transaction value agreed with the overseas buyer and cannot be altered based on domestic market prices or Customs officers' assessments. The impugned order, which sought recovery of export benefits, confiscation, and penalties based on a revised FOB value, was set aside as it was passed without legal authority. The appeal was allowed accordingly. Case-Laws Customs Tue, 22 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775400