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2017 (9) TMI 1710 - AT - CustomsValuation - abatement of duty element from FOB price - value to be considered for discharge of export duty on Iron Ore Fines - Held that - The issue is decided on merits against the appellant by the decision of Tribunal in the case of Sesa Goa Ltd. 2010 (8) TMI 747 - CESTAT MUMBAI where it was held that FOB price of iron ore exported by one of the present appellants was held to be cum-duty price and accordingly abatement of duty element from the FOB price was allowed to the assessee - appeal dismissed - decided against appellant.
Issues Involved:
Value consideration for discharge of export duty on Iron Ore Fines, abatement of duty element from FOB price. Analysis: The appeal before the Appellate Tribunal CESTAT Hyderabad concerned the valuation for the discharge of export duty on Iron Ore Fines. The Appellant had declared a value based on the Fe content of Iron Ore Fines at 63.5%. However, the adjudicating authority increased this value by including the amount paid by the importer to the Appellant as freight and denied abatement of duty from the FOB value. Consequently, the Shipping Bills were finalized, confirming a differential duty. The first appellate authority modified the order, favoring the Appellant on the issue of Rate of Exchange but rejecting the claim of abatement of duty element from the FOB price. Upon hearing both sides and examining the records, the Tribunal noted that the appeal specifically revolved around the abatement of duty element from the FOB price. It was highlighted that a similar issue had been decided against the Appellant in a prior case involving Sesa Goa Ltd. The Tribunal, after reviewing the previous Tribunal's order and the facts of the current case, concluded that the issue on merits had already been addressed. Consequently, the Tribunal rejected the appeal filed by the Appellant. In conclusion, the Appellate Tribunal CESTAT Hyderabad upheld the decision regarding the abatement of duty element from the FOB price, in line with the precedent set in the case of Sesa Goa Ltd. The Tribunal's ruling emphasized the importance of consistent application of legal principles and precedents in matters of valuation for export duty purposes.
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