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2023 (3) TMI 843 - AT - CustomsValuation of import goods - Levy of custom duty on the value determined on the quantity received in Shore Tanks as claimed by the Appellants or on transaction value based on invoice price of the overseas suppliers - bulk liquid cargo imports of Motor Spirit (MS) - whether the cargo is chargeable to ad valorem rate of duty or to specific rate of countervailing duties? HELD THAT:- The issue is no longer res integra as the same has been decided by the Hon’ble Supreme case in the of MANGALORE REFINERY AND PETROCHEMICALS LTD. VERSUS COMMISSIONER OF CUSTOMS, MANGALORE [2015 (9) TMI 245 - SUPREME COURT] where it was held that the quantity of crude oil actually received into a shore tank in a port in India should be the basis for payment of customs duty. Consequential action, in accordance with this declaration of law, be carried out by the customs authorities in accordance with law. A The appellant’s claim of payment of Customs duty on quantity received in shore tank is correct and legal and revenue claim of duty payment on transaction value based on invoices of all overseas suppliers is not sustainable - appeal allowed.
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