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Issues: Whether goods cleared to SEZ unit developers were to be treated at par with clearances to SEZ units for the purpose of exemption under Notification No. 50/2008-CE(NT), and whether reversal of 10% of the value of such clearances was required.
Analysis: The dispute centered on the applicability of the exemption notification to clearances made to SEZ unit developers. The matter was treated as settled by binding High Court decisions holding that such clearances are equivalent to clearances made to SEZ units. On that basis, no reversal of 10% of the value of the goods cleared was warranted.
Conclusion: The demand for reversal was not sustainable and the issue was decided in favour of the assessee.
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