TMI Blog2010 (5) TMI 445X X X X Extracts X X X X X X X X Extracts X X X X ..... pellants are a manufacturer of polyester staple fibre in their factory at 213, Piparia Industrial Estates, Silvassa. They were granted an import licence under "Export Promotion Capital Goods Scheme" (EPCG Scheme) under para 38 of the EXIM Policy, 1992-97 against which they could import capital goods valued at Rs. 6,55,72,140/- on payment of customs duty at concessional rate of 15%. The capital goods so imported were to be used in the manufacture of finished goods for export and their export obligation under the EPCG Scheme was four times the CIF value of the capital goods imported at concessional rate of duty. The Appellants imported - (a) Capital goods v/a Rs. 5,09,84,800/- CIF on payment of basic customs duty of Rs. 76,47,720/- and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty liability at Rs. 1,23,33,557/-. The Settlement Commission determined this duty liability on the basis that while the total differential duty (basic + additional customs duty) payable is Rs. 1,49,39,415/- and the Appellants have met their export obligation only to the extent of about 17.45% resulting in about 82.55% short fall, their duty liability would be 82.55% of Rs. 1,49,39,415/- i.e. Rs. 1,23,33,557/-. The Settlement Commission also directed that the question regarding eligibility for cenvat credit of the Additional customs duty component of the total duty demand of Rs. 1,23,33,557/- would be decided by the Jurisdictional Central Excise Officers. 1.1 The Appellants, in pursuance of the Settlement Commission's order dated 9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve defended the impugned order reiterating the Commissioner (Appeals)'s findings. 3. We have carefully considered the submissions from both the sides and perused the records. As per the provisions of Sec. 3(1) and 3(2) of the Indian Customs Tariff Act, 1975, in respect of the goods imported into India, an additional customs duty is also chargeable in addition to basic customs duty, at the rate equal to the rate of Central Excise duty chargeable on like goods produced or manufactured in India and when the additional customs duty is chargeable at an ad-valorem rate, the assessable value for the same would be the assessable value of the goods determined u/s. 14 of the Customs Act, 1962 plus the basic customs duty. In this case, the tot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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