Fe content for export duty - Fe content to be determined on Wet Metric Ton basis, not Dry Metric Ton. Circular must be followed.

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....The case involved the determination of Fe content for export duty purposes. The Tribunal upheld that Fe content should be calculated on Wet Metric Ton (WMT) basis as per Circular No. 04/2012-Cus. The authority correctly applied the formula, considering WMT basis over Dry Metric Ton (DMT) basis. The decision was supported by a Supreme Court ruling affirming the feasibility of determining Fe content in moist iron ore. The department failed to provide any valid reason to deviate from the circular. The Tribunal dismissed the appeal, affirming the authority's decision based on legal provisions and industry standards.....