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2002 (3) TMI 49 - SC - CustomsSpecial additional duty at four per cent on the customs duty leviable on the goods levied Held that:- The point to note is that for the purposes of customs duty, the taxable event occurs on the date on which the goods are cleared from a bonded warehouse for house consumption. It is that date which is relevant for the purposes of the rate of customs duty and any additional duty thereon. In the present cases, on the dates on which the goods were cleared from the bonded warehouses the special additional duty, introduced on 1st June, 1998, was already in existence and the assessee was correctly made liable to pay the same. The judgment in the case of Polyset Corporation [1999 (10) TMI 66 - SUPREME COURT OF INDIA] deals with the Excise Act. Under the Excise Act, the taxable event occurs when the goods are manufactured, but the collection of the duty may be deferred for administrative convenience. It is, therefore, the date of manufacture which is relevant for the purposes of excise duty and any additional duty thereon. That is what has been held in the case of Polyset Corporation. It has no application to these appeals. The judgment in the case of J.K. Synthetics [1999 (10) TMI 75 - SUPREME COURT OF INDIA] is quite alien to the issue that is before us. Appeal dismissed.
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