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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether, under Regulation 5(4) of the Project Import Regulations, 1986, goods intended for project import under Heading 98.01 of the First Schedule to the Customs Tariff Act, 1975 could be registered and cleared on the strength of an REP licence, without a separate Import Trade Control licence.
Analysis: The regulatory scheme for project imports requires prior registration of contracts for goods falling under Heading 98.01, and Regulation 5(4) contemplates accompaniment of the contract by the import trade control licence wherever required. The expression "wherever required" was read in the context of the import policy, which permitted imports under REP licences as well as import licences issued by the competent authority. On that construction, the requirement of an Import Trade Control licence was not treated as universal for every project import. The provision was construed so that the registration mechanism remained workable and the expression "wherever required" was not rendered redundant. Since the contracts and REP licences were undisputed, refusal to register the contracts was not justified.
Conclusion: An REP licence was held sufficient for registration of the contracts for project import under Heading 98.01, and the refusal to register the ten contracts was set aside in favour of the assessee.
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