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2010 (4) TMI 951 - CESTAT BANGALOREValuation of warehoused goods removed after withdrawal of warehousing facility - whether the duty is payable on the stocks lying on the date of withdrawal of warehouse provisions or on the different transactions values adopted at the time of removal of goods from the warehouses subsequent to withdrawal of warehousing facility from 5-9-2004 to 30-9-2004? Held that: - The assessable value of petroleum products cleared from the refineries on or after 6-9-2004, is to be determined under Section 4 of the Central Excise Act, 1944 read with the Valuation Rules - no storage losses are permitted in the export warehouses/tanks whether intermediate or at AFS including those with such mixed storage. Further, the export warehousing under Notification No. 46/2001-C.E. (N.T.), dated 26-6-2001 does not cover removal of goods from one export warehouse to another. The duty liability on the goods in the warehouses after the withdrawal of warehousing facility could be discharged in terms of provisions of Rule 8 of the Central Excise Rules, 2002 could indicate that duty liability can be paid by the appellant on 5th of the following month. Such determination of the duty can arise only when the goods are cleared from the warehouses. Appeal allowed - decided in favor of appellant.
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