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Exports of Iron Ore must be assessed on Wet Metric Tonne (WMT) basis and not on Dry Metric Tonne (DMT) basis
Case Law Details
- Case Name
- OCL Iron and Steels Limited Vs Union of India (Orissa High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Orissa High Court
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OCL Iron and Steels Limited Vs Union of India (Orissa High Court)
Conclusion: For export transactions occurring before the Finance Act, 2022 amendment, the determination of iron ore fines (Fe content) must be done on a Wet Metric Tonne (WMT) basis, rejecting the Dry Metric Tonne (DMT) method adopted by the Adjudicating Authority.
Held: The writ petition assailed the Order-in-Original passed by the Commissioner of Customs (Preventive) whereby the export transactions of iron ore fines effected by assessee during the period prior to 01.05.2022 were finally assessed by determining...
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