2017 (11) TMI 1530

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....s Ltd. CC ST, Visakhapatnam-Cus OIA No.58/2012-VCH dt. 30.08.2012 2. C/23600/2014 Rungta Sons Pvt. Ltd., CC ST, Visakhapatnam-Cus OIA No.82/2014-VCH dt. 25.08.2014 3. C/23601/2014 Rungta Sons Pvt. Ltd., CC ST, Visakhapatnam-Cus OIA No.83/2014-VCH dt. 25.08.2014 4. C/23602/2014 Rungta Sons Pvt. Ltd., CC ST, Visakhapatnam-Cus OIA No.84/2014-VCH dt. 25.08.2014 5. C/23603/2014 Rungta Sons Pvt. Ltd., CC ST, Visakhapatnam-Cus OIA No.85/2014-VCH dt. 25.08.2014 6. C/23604/2014 Rungta Sons Pvt. Ltd., CC ST, Visakhapatnam-Cus OIA No.86/2014-VCH dt. 25.08.2014 7 C/23605/2014 Rungta Sons Pvt. Ltd., CC ST, Visakhapatnam-Cus OIA No.87/2014-VCH dt. 25.08.2014 ....

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.... Authority has rejected the appeal by the recording that "duty is charged on advalorem, the dry weight of the iron ore is critical in finding the final value of exported iron ore and moisture content is crucial in quantification of the dry weight of exported iron ore. Therefore, it is clear the percentage of moisture content needs to be verified for assessment of correct amount of duty hence testing of sample is done not alone for checking whether or not Fe is above 64% to decide the goods are restricted for export. 6. While in the case of Rungta Sons Pvt. Ltd., the First Appellate Authority has come to a conclusion that the appellants had to discharge the export duty based upon the re-determined value of the consignment by recording as ....

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.... Act, 1962 stipulates that for the purpose of the Customs Tariff Act, "the value of the exported goods shall be the transaction value of such goods, that is to say, the price actually paid or payable for the goods when sold for export from India for delivery at the time and place of exportation, where the buyer and seller of the goods are not related and price is the sole consideration for the sale." 6.2 It is not the case of the department that the buyer and seller are related. It is also not a case of the department that the respondent has realized any amount more than what is indicated in the final invoice price, which has been received by them through the Bank. In other words, the price actually paid for the goods exported was the pr....