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2015 (3) TMI 1039 - CGOVT - Central ExciseDenial of rebate claim - original/duplicate copies of AREs-1 could not be filed along with relevant proof of export - original authority ordered for re-credit in Cenvat account on the ground that transaction value in impugned cases is the lowest of three FOB values given in impugned AREs-1, Shipping Bills and BRCs - Held that:- The FOB value declared on Shipping Bill is exactly same. The difference in BRC value is due to fluctuation in foreign exchange rate and not due to any inclusion of ocean freight value. Government notes that the original authority has not given any finding/reasoning for choosing lowest of the values mentioned in AREs-1, Shipping Bills and BRCs. Such conclusion without any basis is not proper and legal. Once, port of export is not disputed as ‘place of removal’, and sale contract is on FOB basis there is no reason to reject the ARE-1/FOB value as transaction value. - C.B.E. & C. vide Circular No. 510/06/2000-Cx, dated 3-2-2000 has clarified that there is no question of re-quantifying the amount of rebate by applying some other rate of exchange prevalent subsequent to the date on which the duty was paid. As such, the rebate amount need not to be changed on account of lower realization in BRCs due to exchange rate fluctuation. - The contention of the applicant that difference in said values is due to fluctuation in exchange rate has not been considered by lower authorities - Matter remanded back - Decided in favour of assessee.
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